Public-private collaboration needed to detect US cyber threats

Security

by CBR Staff Writer| 10 January 2013

US defence secretary has warned that the country could face a 'cyber-Pearl Harbour'.

The CEOs of America's leading firms believe a public-private collaboration would help detect, deter and control threats to the nation's strategic information systems, according to a new report from Business Roundtable (BRT).

The report, entitled 'More Intelligent, More Effective Cybersecurity Protection', said that CEOs are prepared to invest in the infrastructure necessary to receive shared threat information and develop the capabilities required to integrate cybersecurity threat and risk information into their risk management planning.

According to the report, the CEOs are also ready to recommend that boards of directors, as part of their risk oversight functions, continue to periodically review management's business resiliency plans, including cybersecurity, and oversee related risk assessment and risk management processes.

Ajay Banga, president and CEO of MasterCard Worldwide, and Chair of the BRT Information and Technology Committee, said: "Safeguarding America's strategic information systems, most of which are privately owned and operated, is a top priority for U.S. Business."

"But, to counter growing threats, we need intelligence and tools from government that only government can provide," Banga said.

"The robust, two-way exchange of information, supported by appropriate legal and privacy protections, will improve public-private risk management, and ultimately, improve the security of the nation's cyber assets."

BRT is an association of chief executive officers of leading US companies with over $7.3 trillion in annual revenues and about 16 million employees.

Last year, US defence secretary Leon Panetta had warned that the country could face a 'cyber-Pearl Harbor' and drafted new initiatives which are hoped to enable the military to prevent such attacks.

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