US: Cyber threat sharing excused from antitrust scrutiny

Days after a bug in the encryption technology, known as “Heartbleed,” surfaced as a massive threat to online users’ privacy, the US Department of Justice and Federal Trade Commission are urging companies to collaborate and share information regarding cybersecurity details without fear of antitrust repercussions.

Reports say companies had approached the DOJ with concerns about sharing such information over fears antitrust law would penalize the act.

”Legitimate cyber threat sharing can help secure the nation’s networks,” DOJ official James Cole said at a press meeting, held jointly with the FTC.

The companies that reportedly approached Cole with concerns were not named.

Cybersecurity within top companies in the nation have risen to the top of consumer and regulator concerns as high-profile security breaches continue to break news. Notably, Target Corp. revealed the cyber theft of 40 million credit and debit card records, and millions of other personal information.

But the FTC and DOJ are now encouraging companies to collaborate on cybersecurity efforts as the most recent threat, known as Heartbleed, continues to make headlines. Heartbleed has compromised potentially millions of personal data; while the exact breadth of the breach is unknown, online companies – including Yahoo, Google and Facebook – are urging consumers to change their login passwords to protect information.

Full Content: Reuters

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