Secret Service Director: Cybercrime Now Run Like a Real Business

Press Release

In response to questions from Iowa Congressman David Young at a Capitol Hill hearing, U.S. Secret Service Director Joseph Clancy highlighted the increasing, entrepreneurial threat posed by criminals online, and said, "These cybercriminals today, they run it like a business. They don't just take their spoils from their crime and invest it. They invest it in their criminal enterprise."

Congressman Young, the founder of a new bipartisan congressional task force to combat identity theft and fraud, pressed the U.S. Secret Service Director on what the agency is doing to protect Americans from the growing problem of identity theft and fraud. The agency, more commonly known as tasked with the protection of national government leaders and their families, is also one of the lead federal agencies investigating financial crimes.

The Iowa Congressman's Bipartisan Congressional Task Force to Combat Identity Theft and Fraud is an effort to examine the scope of cyber/online crimes and other scams perpetrated with the intent to steal the identity and financial resources of hardworking Americans. Task force members will work together across the partisan divide to find commonsense solutions to protect Americans from hackers, scammers, thieves and fraudsters.

The exchange took place in a hearing to examine the federal budget held by the U.S. House Appropriations Committee Subcommittee on Homeland Security.

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