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US prepares economic countermeasures in light of recent cyberattacks

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china hacking stock 1020
china hacking stock 1020

The recent rash of hacking attacks shows no sign of slowing — Apple today announced it had fallen victim to the trend — but the US government is preparing some measures to help address the situation. The Associated Press is reporting that the White House will release a new strategy tomorrow, outlining penalties, fines, and trade restrictions designed to deter countries from participating in such efforts.

The announcement would come just days after The New York Times detailed a report from security firm Mandiant. That report traced many of the attacks on US corporations and business back to the People's Liberation Army base in Shanghai. While China has steadfastly denied any involvement in the recent attacks, both The Washington Post and the Times have stated that China was to blame. Facebook and Twitter have also been hit with cyberattacks, and while the details of the White House's proposal aren't known just yet, it's clear that government officials realize steps need to be taken beyond the recent cybersecurity executive order signed by President Obama.