By CNNMoney's Charles Riley
The Pentagon has accused China of trying to extract sensitive information from U.S. government computers, the latest in a series of rhetorical skirmishes between the two countries on the issue of cyberattacks.
The frank assessment, made in an annual report to U.S. lawmakers on Chinese military capabilities, is the harshest and most detailed set of accusations made thus far by the Obama administration.
"In 2012, numerous computer systems around the world, including those owned by the U.S. government, continued to be targeted for intrusions, some of which appear to be attributable directly to the Chinese government and military," the report said.
The Pentagon said China is carrying out the attacks in an effort to extract information from "diplomatic, economic and defense industrial base sectors that support U.S. national defense programs." The intellectual property and data is likely being used to bolster China's own defense and high tech industries, the report saidFULL STORY
By Charles Riley, reporting from Hong Kong
President Obama and Mitt Romney each used their second presidential debate to talk tough on China.
Romney pledged that he would label China as a currency manipulator on his first day in office - a promise he frequently works into his campaign speeches. And he accused China of "stealing" designs, patents and technology pioneered by U.S. companies.
"There's even an Apple store in China that's a counterfeit Apple store, selling counterfeit goods," Romney said. "They hack into our computers. We will have to have people play on a fair basis."
Obama was more circumspect in his use of language, but he touted the trade complaints his administration has filed against China over auto parts. Obama also recently blocked the sale of American wind farm companies to a Chinese firm.Click here for the FULL STORY
By Charles Riley
ING Bank has agreed to pay a $619 million penalty for moving billions of dollars through the U.S. financial system at the behest of Cuban and Iranian clients, acts that violated economic sanctions.
In addition, the Dutch bank admitted to falsifying the records of New York financial institutions, according to the Manhattan District Attorney, who was joined by the Department of Justice in announcing Tuesday's settlement.