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The Cybersecurity Play That Doubled Once – Will Double Again

Not long ago, a relative of mine was the victim of identity theft. And I have to tell you that I really felt for the entire family.

The thief ran up nearly $20,000 in charges, opened new accounts and tried to open others.

And I can tell you that the frustrations over the losses (most of which ended up being covered) were dwarfed by the helplessness that came whenever new charges showed up – and the worry that was spawned by never finding out how the whole mess started.

As we watch the headlines about data breaches and cybercrime – and watch as the violations move closer and closer to home – those worries only escalate.

  • Featured Story

    How to Invest in Cybersecurity

    Internet security

    More and more companies are asking how to invest in cybersecurity, as the industry looks to be the only area of U.S. defense spending that will escape the looming budget cuts slated for March 1.

    As Money Morning Executive Editor William Patalon III explained in his recent report, "The Cyber-Hacking of America," the booming interest in cyber-defense stems from the increasing number of threats targeting the United States.

    Patalon said the intelligence community's National Intelligence Estimate, used to brief lawmakers, found "the U.S. is the target of a massive, sustained, cyber-espionage campaign."

    A separate report released last week by Virginia-based cybersecurity firm Mandiant Corp. found a Chinese military unit was behind cyberattacks on at least 141 organizations since 2006.

    "We know that the U.S. Federal Reserve has been hacked, we know that The New York Times has been hacked, and that's just the beginning," said Patalon. "This is going to be a major, major story and something that investors need to watch."


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