U.S. bombarded with cyberattacks

A new intelligence assessment has concluded that China is engaged in a massive, sustained cyber-espionage campaign against American businesses and institutions. According to the National Intelligence Estimate, Chinese hackers have targeted nearly every sector of the economy over the past five years, including companies operating in finance, energy, and automotives, in a bid to steal data for economic gain. The report also notes that Russia, Israel, and France have engaged in hacking for economic intelligence, but makes clear that their cyber campaigns pale in comparison with Chinese efforts. Outside experts say hacking costs the U.S. as much as $100 billion every year.