Google and Microsoft plan to invest billions to strengthen US defenses against hacker attacks – 08/26/2021 – Market

Many of America’s largest technology companies have pledged billions of dollars in efforts to improve America’s flawed cyber security since the White House summit on Wednesday.

Joe Biden To discuss the many shortcomings in U.S. cyber security capabilities for CEOs of more than 20 companies in the technology, energy, banking, insurance and education industries.

The president spoke with the secretaries of trade, energy and homeland security after a series of major attacks on US infrastructure. Hacking against the colonial pipe, In May, and The proliferation of ransomware attacks Affecting businesses and public services.

Executives including Apple’s Tim Cook, Google’s Sunder Pinchai, Microsoft’s Satya Nadella and Amazon’s Andy Jassi were in attendance.

“The truth is, most of our vital infrastructure is controlled and operated by the private sector,” Biden said in his inaugural address. “The federal government is not capable of tackling this challenge alone.”

A senior government official said the president wanted the event to be a “call to action” against the root causes of malicious online activity, with an emphasis on addressing the shortage of skilled cyber security experts. There are approximately 500,000 jobs in the United States in this area of ​​operation.

After the meeting, the White House announced that the National Standards and Technology Agency would work with companies to improve the integrity of the “software supply chain” – vulnerabilities identified within the patchwork of basic technologies and protocols. Many services.

Beggar Google, said from letters, Will participate in this initiative and invest more than $ 10 billion in cyber security over the next five years. The company promises to train 100,000 Americans to work in related industries.

IBM CEO Arvind Krishna said his company would train 150,000 cyber security professionals over the next three years and work closely with black colleges and universities.

Microsoft, the victim of a cyber attack in March, said it would invest $ 20 billion in cybersecurity over the next five years, four times higher than it is today. In addition, the company will provide $ 150 million in technical services to local and national governments.

Amazon, which did not specify a specific amount about the cost of its efforts, announced that it would be offering training materials to the public to protect employees from cyber attacks.

It also announced that some AWS customers will receive free multi-factor authentication devices to provide additional security during the login process.

The White House has announced that Apple is pushing for stronger Internet security from its vendors.

Jamie Dimon of JPMorgan Chase and Brian Moynihan of Bank of America were among the bank executives present. Other companies involved include ATP, which provides software to manage payroll, and energy companies Konoko Philips and Fiji & E.

The meeting was attended by several insurance companies. Flexibility in providing insurance for computer operations declared that its customers must maintain a minimum Internet security standard as a condition for protection.

The meeting comes as Congress is discussing measures to combat a series of cyber-attacks on the public and private sectors over the past 12 months, the most serious of which could have been carried out by individuals or organizations based in Russia and China.

In December, a Attack on Solarwinds, A Austin-Texas-based computer company, has been involved in inserting malicious software code into software used by at least nine federal government agencies and about 100 companies, officials said. The attackers seem to have been using this vulnerability for at least nine months.

In response, the Cyber ​​Incident Notification Act, which was proposed last month with bipartisan support, seeks to impose stricter rules on exposing cyber attacks on companies working with the federal government or operating critical infrastructure.

In July, Biden signed a national security agreement outlining cyber security performance goals for the country’s core infrastructure, including essential services such as energy, water and transportation.

It complied with an administrative order imposing minimum security standards for software sold to the government.

Translation by Paulo Migliacci