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US-China cooperation checks cyberattacks against critical infrastructure and financial sectors
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US-China cooperation checks cyberattacks against critical infrastructure and financial sectorsSIPA 14 (School of International and Public Affairs, Columbia University, June 2014, “U.S.-China Cybersecurity Cooperation “Capstone Report, pg16-20, HY) China and the U.S. should begin cooperating on several areas related to financial cybersecurity—identifying threats, establishing processes for disseminating information, coordinating crisis responses, and improving abilities in detecting and forecasting threats. The timely sharing of threat information is critical in developing and deploying protective measures against malicious cyber activity. Gaps or lags in information sharing and analysis necessitates that the industry deploys faster and more effective electronic tools for detection and intelligence collection in relation to security attacks and incidents. In particular, there is an increased need for capabilities to assimilate multiple sources of threat data to better identify threat activity and produce threat profile identification, which might be difficult to obtain. The U.S. and Chinese governments should create a formal system to cooperate against cyberattacks, but as this might take time (as there would be initial sensitivity to establishing this system), it would be best to encourage the big banks and financial exchanges in each country to start sharing information first. Interviewees expressed concern surrounding information sharing and U.S. privacy laws. They recommended that the focus of information sharing be directed toward information involving globalized financial utilities such as financial exchanges and clearinghouses. Defending against third parties. China undoubtedly has an independent incentive in U.S. financial cybersecurity, as it has so much invested a great deal of capital in the U.S. and the global financial system. It would therefore be in China’s best interest to cooperate with the U.S. in preventing other countries, such as Iran, from damaging the U.S. financial system. Agree that certain areas are sacred. The governments of the U.S., China, and other nations should find ways to cooperate and agree to maintain the sanctity of certain critical infrastructure in the financial sector, therefore implicitly discouraging these areas of infrastructure from becoming targets of attack. In the financial services sector, the important prohibitions would be no probing, surveillance, or malicious activity by governments or government entities against this infrastructure. Again, the two most relevant areas of infrastructure are exchanges and clearinghouses. Not only are these infrastructures extremely important, but there is nothing to be gained by governments from attacking them. Cooperation between states will make it easier for them to target non-state actors wishing to cause damage or steal money in these areas. Download 357.18 Kb. Share with your friends:
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