WASHINGTON, DC—Congressman Jim Himes (CT-4) – Ranking Member of the House Intelligence Committee’s Subcommittee on the National Security Agency and Cybersecurity – delivered the following remarks, as prepared for delivery, at today’s full committee hearing on “The Growing Cyber Threat and its Impact on American Business.”
“Thank you Chairman Nunes and Ranking Member Schiff for your work on these important issues. I also want to thank my colleague Mr. Westmoreland, the Chairman of the Subcommittee which oversees NSA and cybersecurity.
“Cybersecurity is not just a pressing national security concern; it is one of the most urgent economic issues facing our country.
“Target, Anthem and Sony underscore the damaging consequences of cyber-attacks—not just for companies’ bottom lines – but for the safety and security of Americans’ personal information, including their health records and bank accounts.
“Estimates indicate that cyber-attacks could cost the U.S. economy hundreds of billions of dollars. In 2013, more than 500 million personal records were stolen from U.S. companies.
“Every day, our adversaries continue to probe our financial institutions and our critical infrastructure. These attacks, and their variants, will continue to increase and will become more sophisticated.
“While there may be no way to fully prevent these attacks and incidents from occurring, it is clear we must act.
“We need to update our laws to ensure that information is shared, consumers are protected and that the government is working hand in hand with the private sector to minimize the financial and economic harm of cyber incidents.
“I commend the private sector, the Administration and others for their work on this important issue. But we can all do better. Congress must act swiftly to pass cybersecurity legislation that balances privacy and security.
“We must craft a proposal that safeguards private personal information and provides liability protections for companies, but that does not give absolute immunity to those who are negligent or who disregard the laws. And we must be sure companies are improving the safety of their systems and notifying consumers when their data is compromised.
“The cyber threat also poses the challenge and opportunity for government to accelerate its capacity to adapt and innovate.
“Cybersecurity should not be a partisan issue; it affects all of us. The longer we wait to act, the longer we will remain at risk.
“As someone who spent years in the business community, I know how vital it is for government to provide a sound legal framework.
“I look forward to today’s discussion about the threats the business community faces, how they’re addressing those threats and ways government can help in this effort.
“I yield back.”