Nova Daly Discusses Foreign Cyber Threats to Small Businesses at U.S. House Hearing

July 13, 2016

Nova J. Daly, senior public policy advisor in Wiley Rein’s International Trade, Cybersecurity, and Privacy practices, recently testified before the U.S. House Committee on Small Business at a hearing on foreign cybersecurity threats to small businesses. His testimony was cited by numerous media outlets, including the Associated Press, Politico, The Daily Caller, Morning Consult, and PYMTS.com.

While cyberattacks can harm companies of all sizes, the risk of highly sophisticated attacks by foreign actors is a particular challenge for small businesses, Mr. Daly said. “While large U.S. businesses typically have the means to fund and invest in strong and resilient cybersecurity measures to protect their interests, small businesses generally do not have this luxury,” he said. “They often lack the capabilities and/or the resources to pursue strong, entity-wide cybersecurity protections.”

He added that large companies are sometimes alerted by the U.S. government when breaches occur. However, “our government simply does not have the resources to address all of the cyber security-related issues faced by business, critical infrastructure, and governmental systems, much less those faced by small businesses,” he said.

Mr. Daly, an experienced international investment and trade policy professional, has held senior leadership positions at the U.S. Departments of the Treasury and Commerce, the White House, and the U.S. Senate. At Treasury, he served as Deputy Assistant Secretary for the U.S. Committee on Foreign Investment in the United States (CFIUS) from 2006 to 2009.

To read Mr. Daly’s hearing testimony, please click here.