U.S. Senators Lindsey Graham and Sheldon Whitehouse (D-RI) have developed a working version of legislation to crack down on foreign hackers who target businesses.
They released a“discussion draft” Monday of legislation to help prosecutors crack down on economic espionage and trade-secret theft. Both are leaders on the Judiciary Committee’s Crime and Terrorism Subcommittee and plan a hearing in the fall to consider the proposals.
“There are different ways people can steal from you: a guy can walk up to you with a gun or he can just hack your computer while sitting on his couch in another country,” said Graham. “Trade-secret theft and economic espionage can become forms of financial warfare. We must make sure we give law enforcement the tools to go after state-sponsored foreign hackers and organized cyber-thieves that are stealing our intellectual property.”
The discussion draft includes provisions to make sure the existing Economic Espionage Act covers foreign-sponsored trade secret theft and would allow victimized American companies a voice in protecting their own trade secrets during criminal prosecutions.