STANFORD, Calif. (AP) — Governments and businesses spend $1 trillion a year for global cybersecurity.
Unlike wartime casualties or oil spills, there's no clear idea what the total losses are because few will admit they've been compromised. Cybersecurity leaders from more than 40 countries are gathering at Stanford University this week to consider tackling that information gap by creating a single, trusted entity that would keep track of how much hackers steal.
Chinese Minister Cai Mingzhao acknowledged there are issues of trust to overcome — with some U.S. cybersecurity firms pointing to attacks coming from the Chinese military. But he said countries must work together.
He says in "cyberspace, all countries face the same problems and ultimately share the same fate."
Mingzhao also urged counterparts to establish international rules for behavior in cyberspace.