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White House seeks support of tech CEOs with Cybersecurity SummitPresident Obama heads to Stanford University to meet with Apple CEO Tim Cook and other business and academic leaders in an effort to tackle cyberthreats.
data breaches. They don't just effect our personal security. Cyber threats, pose enormous challenge for our country. It's one of the most. Serious economic and national security challenges we face as a nation. Recent attacks like the Sony hack, have spurred the White House to action. President Obama has set aside 14 Billion dollars in the US budget to boost cyber security. And now he's seeking support form the private sector. As part of that effort, the President will attend a summit on cyber security and consumer protection at Stanford University. Business, government, and academic experts will attend, among them Stanford researcher Herb Lin. The fact that it's also focused on consumer protection is a big deal too, because it says that ordinary citizen like you and me have a personal stake in cyber security as well. The summit will cover a range of issues. From developing better passwords and authentication techniques to encouraging more secure payment methods. The president i, is going to be speaking with a large number CEOs. Of major American corporations who, I believe, are going to commit themselves to taking. Specific concrete actions to improve the cyber security postures of their individual organisations that say we will do x y and z to improve cyber security that we didn't before and that we haven't done before and this will have tangible effects on the security, the cyber security that our customers enjoy. Apple CEO Tim Cook will be speaking at the summit. Making it likely that the subject of encryption services. Cook previously said that Apple's encryption techniques make it impossible to intercept user data even when faced with a subpoena. Where gonna keep on at this as a government, but we're also gonna be working with the private sector to detect, prevent, defend. Deter against attacks. And to recover quickly from any disruptions or damage. Lynn says that cyberthreats will always pose a problem. They are facing an uphill battle. But there's room for improvement. Fewer security breaches would be a good start. In Sanford, California, I'm Cindy Doss, CNET.com for CBS News.