WASHINGTON—Saying that losses due to cyber-attacks could cost the U.S. economy more than $400 billion this year, Senator Diane Feinstein (D-CA) argued passionately for final approval of the Cybersecurity Information Sharing Act, which was passed by the Senate at the end of October.
Quoting recent studies from Industry on the costs of cyber-crime, Feinstein listed a series of cyber-attacks, including one in 2012 on Saudi Arabia’s Aramco Oil Company that wiped out three-quarters of its computers.
“It’s only a matter of time before they progress to our critical infrastructure,” she said. Senator Feinstein was speaking to a small group of executives at the offices of Arent Fox, a law firm with offices here. Feinstein highlighted what she regards as one of the strengths of the bill as passed by the Senate. “We crafted a bill that got 74 votes on the senate floor,” she said.