The Hill reports that Senators Orrin Hatch (R-Utah) and Kirsten Gillibrand (D-NY) have introduced a bill that would penalize foreign countries that fail to crack down on cyber criminals operating within their borders. Under the bill the White House would have the responsibility of identifying countries that pose cyber threats and the president would have to present to Congress in an annual report. Countries identified as 'hacker havens' would then have to develop plans of action to combat cybercrimes or risk cuts to their US export dollars, foreign-direct investment funds and trade assistance grants. Numerous American employers, including Cisco, HP, Microsoft, Symantec, PayPal, eBay, McAfee, American Express, Mastercard and Visa, as well as Facebook, are supporting the Senators' legislation. Read more: Slashdot
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