Commerce taking cyber firms to Eastern Europe

The Commerce Department next week will take 20 U.S. cybersecurity firms on a swing through Central and Eastern Europe.

The trip is an attempt to increase U.S. presence in a region that drives nearly all digital crime worldwide.

“This trade mission is part of our commitment to combating the growing threat of cyber threats and protecting critical infrastructure in the U.S. and among our European allies,” said Bruce Andrews, deputy secretary of Commerce.

{mosads}The notorious “cyber arms bazaar” — an anonymous online black market — is largely run out of various Eastern European countries.

The underground forum sells hacking tools, viruses and pretty much any type of cyber sabotage imaginable. The majority of all digital thievery — valued at nearly half a trillion dollars annually — can be traced back to the bazaar.

With digital evidence difficult to gather and few legal extradition treaties in the region, U.S. officials have struggled to make an impact on the cyber crooks using the darkweb marketplace.

Commerce is hoping trade missions will encourage collaboration that may ultimately reduce digital crime.

“U.S. cybersecurity firms are world leaders, providing cutting-edge technologies, products and services all over the globe,” Andrews said. “Through this trade mission, we will have the opportunity to share best practices and collaborate to combat and protect against cyber attacks.”

Between May 11 and 15, the group will travel to Romania and Poland, “two strategic and economic U.S. partners in the region,” Andrews said.