US to authorize private firms for offensive cyber operations against criminals

The White House has authorized a new policy allowing select private companies to conduct offensive cyber operations against foreign criminal groups. Under a presidential memorandum, firms can be deputized to disrupt hackers' infrastructure, subject to government approval and a minimum US$1 million bond for each operation. The controversial 'privateering' model aims to leverage private sector capabilities to combat costly cybercrime like ransomware and online fraud.