U.S. Government Considers Chinese Sanctions For Hack Attacks

The U.S. government is said to be drafting a series of potential sanctions against countries such as China, which have benefited from hacking American corporate networks. According to the Washington Post, retaliation against the international hack attacks could include indictments, trade sanctions and potentially cyber retaliation. However, officials remain nervous about unleashing an aggressive response and causing further tension between the world's two largest economies. Cyber criminals have been responsible for increasing incidents of theft and espionage within the corporate sector, which have ranged from espionage to design theft and large scale data leaks. While authorities suspect China to be the most damaging cyber aggressor, other countries such as Russia and North Korea have also increased their efficiency at plundering American corporate trade secrets. China has so far denied any government involvement in widespread data theft but the FBI reported last month that cases of economic espionage were up around 53 percent over the last 12 months. TheStreet's Amelia Martyn-Hemphill reports from New York.