BRT issues national cyber security strategy

The Business Roundtable (BRT), a forum of chief executives of several leading U.S. companies, issued Mission Critical: A Public-Private Strategy for Effective Cybersecurity, a report calling for creation of a modern, flexible, collaborative approach to protecting national secrets and strategic information.

"Safeguarding America's strategic information systems, most of which are privately owned and operated, is 'mission critical' for U.S. business and government," MasterCard Worldwide President and Chief Executive Officer Ajay Banga said. "We need government to do its part by providing the tools only government can provide - including strategic threat assessments, technical assistance and much more robust public-private information sharing partnerships - to help businesses effectively counter growing threats."

The report's recommendations, which can be found at http://businessroundtable.org/studies-and-reports/mission-critical/, include:

• Integrating the resources of the U.S. government to protect U.S. strategic information systems
• Avoiding a prescriptive approach to cyber security that cannot keep up with a rapidly evolving threat environment
• Providing U.S. businesses with the tools to combat cyber security threats
• Strengthening cyber crime penalties and sentencing

"Mobile technology is changing the way people across the globe access information, and we're starting to experience the full capabilities of the digital revolution," said Dr. Paul E. Jacobs, Chairman and CEO of Qualcomm Inc. "However, the promise and potential of technology may be limited by growing cyber threats. America runs on information, so we must address the need for cyber security in order to realize the full potential of this revolution."

BRT's executive leaders represent U.S. companies with combined annual revenues of more than $6 trillion and over 14 million employees. Member companies comprise nearly one-third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development.

Durbin impact varies by state

From Oct. 1 to 16, 2011, Heartland Payment Systems Inc. collected state-specific data on the impact of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Data from HPS' portfolio of 250,000 merchant locations found that for every $100,000 in Visa Inc. and MasterCard Worldwide signature debit and credit card volume processed, average savings per merchant nationwide was $260.24. Washington, D.C., merchants ranked highest, saving an average $333.94, and Montana merchants were lowest at $127.87.