House Intelligence Committee chair says $2 trillion has been lost
Chinese government-backed hackers have cost the United States nearly $2 trillion in “lost and stolen property” that was seized through illicit Internet attacks, Rep. Mike Rogers (R., Mich.), chairman of the House Permanent Select Committee on Intelligence, said Monday.
The theft of proprietary information and technology by the Chinese constitutes “the largest transfer of wealth illegally in the world’s history,” according to Rogers, who warned that the United States is not prepared to combat these cyber threats.…
“We are in a cyber war today,” Rogers said. “Most Americans don’t know it. They go about their lives happily. But we are in a cyber war today.”
The Communist regime is “primarily” engaged in economic espionage, he said, explaining that China’s “military and intelligences services” have seized U.S. industrial technology, repurposed it domestically, and then “illegally” competed with the United States in the world market.
Although these hack attacks have been well documented by the United States, few preventative measures have been implemented, said Rogers, a former Army officer and FBI special agent.
“There have been no consequences, and I mean no consequences, to their economic espionage,” he said. “It’s been a free rein and a free run.”
This theft has allowed China to grow its economy by up to seven percent each year, while also damaging America’s own economic recovery.
Other types of cyber criminals, such as those affiliated with Eastern European nations such as Russia, have successfully infiltrated the U.S. banking sector.
“That credit card in your wallet, the company will get hit about 300,000 times today,” Rogers warned.
Countries such as Iran, North Korea, and Russia have used these same tactics to wage a secret cyber war on the United States, Roger said.
The Russians and Chinese, for instance, have the ability to clandestinely implant malicious codes into the U.S. electrical grid.
“If they ever needed to they could shut this off,” prompting mass chaos, Rogers warned.
Americans have been lulled into having a false sense of security, Rogers said.
“The common myth is that the government protects these networks,” he said. “If you read it in the newspaper the [National Security Administration] is listening to your every move.”
Full article: Mike Rogers: China, Iran, and Russia Launching Cyber Attacks Against U.S. (Washington Free Beacon)