Obama Administration Announces New Initiative to Reduce Theft of U.S. Trade Secrets

by Colonel on February 20, 2013

“The Obama administration warned Wednesday that it will launch new efforts to persuade China and other countries to halt the theft of billions of dollars’ worth of U.S. trade secrets.

The threat to place offender countries on a watch list and other steps are part a broader effort by the administration to coordinate with other nations to fight the growing theft of intellectual property.

The new effort comes amid heightened attention to the issue of cyber-espionage directed at commercial targets, especially by China. This week, an Alexandria cybersecurity firm issued a report accusing the Chinese government of massive hacking campaigns against U.S. targets and President Obama recently issued an executive order aimed at better securing the computer networks of critical industries such as energy.

Officials said they will urge other countries that are also targets of trade-secret theft to join in [the effort].

” — Ellen Nakashima, Copyright 2013 The Washington Post Company

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