Julius Genachowski, the chairman of the Federal Communications Commission said on Wednesday that if we fail to fight the challenges of cybersecurity, U.S. will pay the price in the form of diminishing safety, lost privacy, lost jobs, and financial vulnerability. It means that billions of dollars might lose into the digital criminals. FCC called the internet users to be careful with multiple cyber threats such as botnet attack, IP hijacking, and domain name fraud.

Botnet attack means that one computer will be able to control millions of other computers with a malware downloaded by the users. IP hijacking takes advantage from the weakness in the way internet was built, causing traffic to be redirected to a network it wouldn’t normally use. Domain name fraud is a bad actor which changes the identifying information of a website in the DNS.

What about the future of security? President Barrack Obama already proposed a budget for cybersecurity programs in 2013, indicating that cybersecurity is a real emerging threat beside nuclear war and terrorism.

Do you think the U.S. or the other countries are capable to deal with large scale cyberattack? Have you been alerted for these kind of attacks?