Earlier this afternoon, the President visited Stanford University to speak at the White House Summit on Cybersecurity and Consumer Protection. Today's summit brought together leaders from a number of areas -- Congress, industry, tech companies, law enforcement, students, and others -- to work together and explore partnerships that will help develop the best ways to bolster our cybersecurity.
President Obama remarked that our nation is doing more business online than ever before, at the rate of trillions of dollars each year. And consumers are doing more online as well -- managing bank accounts, shopping, paying bills, handling medical records, just to name a few. But, these new opportunities and conveniences also bring a unique set of risks.
"When companies get hacked, Americans’ personal information, including their financial information, gets stolen," the President explained. "Identity theft can ruin your credit rating and turn your life upside down. In recent breaches, more than 100 million Americans had their personal data compromised, including, in some cases, credit card information."
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