House Set To Review And Pass Controversial Information-Sharing Bill
The U.S. House of Representatives on Wednesday is set to review and pass a bill that makes the sharing of information between private companies and the government possible without the threat of litigation. The bill is highly anticipated by corporations, which say freely sharing information will help in the fight against cyber crime; but privacy activists say it gives the National Security Agency too much power.
Who's For It
Companies like Microsoft Corporation (NASDAQ: MSFT) and Morgan Stanley (NYSE: MS) have voiced their support for the bill, saying that it is an important step in combating the growing threat of cybersecurity breaches. After last year's high profile hacking attacks against Target Corporation (NYSE: TGT), Home Depot Inc (NYSE: HD) and Sony Corp (NYSE: SNE), U.S. firms have become increasingly worried about their networks' vulnerability.
President Barack Obama has also backed the information-sharing bill, saying that it is essential the public and private sectors work together to fight cyber crime. The government battled its own share of cybersecurity breaches over the past year and the president has acknowledged that hacking techniques are evolving quickly, making collaboration essential in keeping up.
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Who's Against It
Privacy groups warn that information sharing between the private and the public sector could pose a threat to individual privacy rights. If companies provide the government with customer data, it would allow the NSA access to sensitive information and even allow the organization to use that information for purposes other than cybersecurity.
The online hacking group Anonymous has been critical of the bill, saying that it allows the government too much surveillance power. On Monday, the Anonymous Twitter feed revealed a scathing op-ed and some of the group's members began circulating a petition against the bill.
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