Trump Signs Executive Order to Combat Cybercrime
The White House announced: "President Donald J. Trump signed an Executive Order to combat cybercrime, fraud, and predatory schemes targeting American families, businesses, and critical infrastructure. The Order directs relevant Administration officials to conduct a comprehensive review to determine what operational, technical, diplomatic, and regulatory tools could be improved to combat transnational criminal organizations engaged in cyber-enabled crime and predatory schemes. The Order requires the submission of an action plan that identifies the TCOs responsible for scam centers and cybercrime and proposes solutions to prevent, disrupt, investigate, and dismantle their operations-including through the establishment of a dedicated operational cell within the National Coordination Center. The Order directs the Attorney General to prioritize prosecutions of cyber-enabled fraud and scam schemes, pursuing the most serious, provable offenses. The Order directs the Secretary of Homeland Security to partner with the NCC to provide training, technical assistance, and resilience building against cyber threats for State and local partners. The Order directs the Attorney General to submit a recommendation regarding the establishment of a Victims Restoration Program to return seized or forfeited funds from fraudsters directly to victims. The Order directs the Secretary of State to engage with foreign governments regarding demands to take enforcement action against TCOs on their soil and to impose consequences-including sanctions, visa restrictions, foreign assistance limits, and expulsion of complicit officials-on nations that tolerate these predatory schemes." Publicly traded companies in the cybersecurity space include Check Point (CHKP), CrowdStrike (CRWD), CyberArk (CYBR), F5 (FFIV), Fortinet (FTNT), Gen Digital (GEN), Okta (OKTA), Palo Alto Networks (PANW) and Qualys (QLYS).
