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A stunning new report on USC grids being stolen in cyberspace and and and sold intelligence experts saying China and Russia are accessing sensitive data jeopardizing billions of dollars worth.
Our research right here and our government apparently isn't the only victim.
-- intelligence correspondent Catherine Herridge is live in Washington with this story so capturing a new report with what's so remarkable about it this time around.
Well thank you -- good morning this report was sanctioned by the US government for public release and it basically names names openly identifying China as the world's biggest cyber thief.
Along with -- the two nations are the most aggressive gathering US economic information technology.
And among the report's conclusions.
Then nearly 400 billion dollars in US research spending is at stake.
China and Russia use cyberspace to conduct economic espionage with -- China trying to build its economy by stealing US technology.
China seas cyberspace is the new wild west were virtually no laws apply.
And China has deliberately planted malicious software and computers and thumb drives soul to American companies.
And for some context this report is substantial it draws on data from thirteen agencies including the CIA and the FBI over the last two years.
Where we've seen a significant spike in activity -- you thinking of cyberspace is the wild question really that -- -- good picture frog that's.
What is the response have any right now from Capitol Hill.
Well a short time ago the head of the House Intelligence Committee said the report validated his warnings last month the China has crossed the line.
China's economic espionage has reached an intolerable level and I believe the United States and our allies in Europe and Asia have an obligation.
To confront Beijing and demand they put a stop to this piracy.
And other lawmakers are calling on the white has to confront Beijing in a public way because back channel efforts have largely been ignored.
Attacks against the US government its networks military contractors are on the rise.
But perhaps -- the most worrying trends is the growing number of attacks on businesses that are smaller than the fortune 500 companies and are less capable of dealing with and Jenna.
Just -- Catherine thank you -- --
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