Cybersecurity Attacks: Regulatory and Practical Approach Towards Preventing Data Breach and Cyber-Attacks in USA

Abstract

Increased cyber-attacks on the United States of America cyberspace has raised a lot of concerns on the integrity of the US cyberspace. The US government recently declared a state of emergency on cyber-attacks after its largest pipeline and meat supply companies were hit by a ransomware attack. These recent attacks show that, in addition to targeting government infrastructures, hackers now target key private companies and demand huge ransomware payments as consideration for not disclosing sensitive information and trade secrets accessed from the attack. This was the case with the attack on Colonial pipeline, who reportedly paid the hackers who shut down their systems the sum of $5million in ransom . The safety of the US cyberspace is a pre-requisite for a sustainable economic development in the US. Acknowledging this fact, the US Homeland security, in its publication, noted that “our daily life, economic vitality, and national security depend on a stable, safe, and resilient cyberspace” . It is important to note that the efforts of the US Homeland Security towards preventing cybersecurity attacks relates mainly to attacks targeted at federal government networks and critical infrastructure . The effect of this is that private companies are generally responsible to develop the capacity to protect their networks against cyber-attacks. Addressing the recent attacks on private companies, the US Senate Armed Services Committee during a hearing held on June 23, 2021, noted the lack of capacity on the part of private companies to withstand cyber-attacks . This acknowledgement came after President Biden had cautioned private companies to develop necessary infrastructure required to prevent future attacks. The Senate Committee also reinforced the need for the federal government to extend its cybersecurity prevention infrastructure to protect the entire country, including the private sector. To achieve a unified approach towards fighting cyber-attacks in the US, there is need for some level of dialogue and collaboration between the federal government and the private sector. The federal government must consider introducing laws and policies that will set the relevant standards required by companies to prevent cyber-attacks.