U.S. Commerce Secretary Gary Locke was joined today at by Chair of the National Economic Council Gene Sperling and White House Cybersecurity Coordinator Howard A. Schmidt to release the administration’s National Strategy for Trusted Identities in Cyberspace (NSTIC)  – a White House initiative to improve online security, increase privacy and foster economic growth and innovation online. Hosted by the U.S. Chamber of Commerce, the event included a panel discussion with industry leaders and privacy advocates, as well as demonstrations of innovative smart technologies being developed to improve online authentication.
NSTIC is a key building block in the national effort to secure cyberspace. According to industry surveys, as many as eight million Americans are victims of online fraud and identity theft each year and lose an average of $631 out-of-pocket per incident. Through a private sector-led effort facilitated by the government, NSTIC aims to make online transactions more trustworthy and enhance consumers’ privacy, thereby giving businesses and consumers more confidence to conduct business online. The webcast will be available on-demand at a later date. | White House press release and fact sheet