Mr. President, I rise today, with Senator John Kerry, to introduce the Small Business Information Security Act of 2008. Not only is this a bipartisan bill in the United States Senate, but it is also…
Mr. President, I rise today, with Senator John Kerry, to introduce the Small Business Information Security Act of 2008. Not only is this a bipartisan bill in the United States Senate, but it is also a bicameral bill. Congressmen Manzullo and Michaud are also introducing companion legislation in the U.S. House of Representatives. This bill would establish within the Small Business Administration, SBA, a Small Business Information Security Task Force to advise the SBA and help small businesses both understand the unique information security challenges they face, and identify resources to help meet those challenges.
As ranking member of the Senate Committee on Small Business and Entrepreneurship, one of my goals is to ensure small businesses are protected from the mounting information security threats they face every day. This legislation will create a clearinghouse of information, resources, and tools--compiled by a task force consisting of public and private sector experts in the field--that will ease the complexity, confusion, and cost often associated with enhancing information security measures within a small business. The task force will continually update information and resources as new technologies and threats arise.
Currently, small business owners turn to the SBA for resources regarding a number of aspects, but information security resources remain largely unavailable within the agency. This legislation will present an opportunity for the SBA to develop and create a repository of data to help small business owners meet their information security needs. This legislation will enable industry experts to come together and immediately provide meaningful strategies to enable small businesses to safeguard their customer's personal information.
Computer networks are increasingly susceptible to hackers, intruders, and other cyber criminals. In fact, in my home state of Maine, the retail supermarket chain, Hannaford Bros., was recently affected by an intrusion into their computer system which led to the exposure of 4.2 million credit and debit card numbers. What many people do not realize is that a breach like Hannaford's impacts not only the millions of customers whose personal data was compromised, but it also has serious downstream impact on our Nation's small businesses. For example, throughout Maine there are many small banks; these banks are responsible for protecting and alerting their depositors upon fraudulent activity. Following the Hannaford breach, many small banks had to replace their customers' credit and debit cards, clearly a costly enterprise that diverts resources from more productive activities, such as small business lending. The bill we are introducing today will help ameliorate this problem.
Unfortunately, these attacks are becoming more frequent and more severe, and the perpetrators are becoming harder to identify and bring to justice. According to a survey by the Small Business Technology Institute, more than half of all small businesses in the U.S. experienced a security breach in the last year. Furthermore, the study concludes that nearly one-fifth of small businesses do not use virus- scanning for e-mail, over 60 percent do not protect their wireless networks with encryption, and two-thirds of small businesses do not have an information security plan.
As these statistics illustrate, small businesses are increasingly at risk of data breaches and other forms of malicious attacks on their information technology infrastructure. Cyber attacks launched by a small group of people can devastate America financially, it is conceivable that a few individuals working together could disable millions of computers at a cost of hundreds of millions to the U.S. economy. Cyber-criminals can hold hostage not just a few individuals, but millions of small businesses. This legislation provides best practices to help small business owners decrease the risk cyber attacks pose to their customers.
The information security threat posed to our Nation's small businesses is serious, and our efforts to prevent and reduce this risk carry a tremendous sense of urgency. We must continue to focus on ways we can protect small businesses, and their customers, from the serious consequences of cyber crimes. In order to take an important first step, I encourage all of my colleagues to support this critical legislation, and I hope we can see this commonsense legislation enacted into law as expeditiously as possible.
Mr. President. I ask unanimous consent that the text of the bill be printed in the Record.
