Knowledge@Wharton: Can Anything Stop Cyber Attacks?

The recent indictment of 12 Russian intelligence officers by the Justice Department for interfering in the 2016 U.S. presidential election underscores the severity and immense reach of cyber attacks, like no other in history. To influence the election’s outcome, authorities said these agents hacked into the computer networks of the Democratic Party to get information, and strategically released it on the internet. In the private sector, companies have to step up their game against cyber attacks that are becoming all too common.

Against that backdrop, fighting cyber threats has never been more important. It is the “greatest terror on the economy, bar none,” but policy makers’ response to it has been moving at a snail’s pace, according to high-ranking cyber-security and risk management experts who spoke at a panel discussion on cyber risks at the Penn Wharton Budget Model’s first Spring Policy Forum, which was held last month in Washington. Experts called for greater awareness of cyber threats at all levels, an inclusive approach to protect all parties affected, and steps to “harden our defenses to make the cost too high for the payoff to carry out these cyber attacks.”

Read the full article here: http://knowledge.wharton.upenn.edu/article/creating-tougher-defenses-cyber-attacks/