Chinese Allegedly Tied to Cyber Attacks on US

Starting with the new report that ties the chinese government to dozens of serious cyber attacks on u.S. Banks, government agencies and other critical industries. It traces the attacks to this white... See More

Starting with the new report that ties the chinese government to dozens of serious cyber attacks on u.S. Banks, government agencies and other critical industries. It traces the attacks to this white house office tower in shanghai, which is the headquarters a chinese army unit. And pierre, the chinese are denying any connection. But the scale of both attacks is substantial. Reporter: Yes, they are. A private security company is accusing the chinese military of hacking u.S. Companies and government agencies. The security firm has identified 141 attacks, tracing them back to this building in shanghai. Among the u.S. Companies allegedly hit, coca-cola. The hackers are accused of combing lu coca-cola company files to gain leverage, when coca-cola was trying to buy a chinese juice company. U.S. Officials have been increasingly concerned that such massive attacks coming from china are having devastating consequences on the u.S. Economy. In short, u.S. Investigators are accused china of economic espionage, of stealing research and design. This allows them to compete without stealing billions on innovation and product development. If this is true, americans should care because it's costing them countless jobs. They are calling this the biggest transfer of wealth in histy. We saw one of a cyber pearl harbor. And the white house is preparing to take action. Reporter: This week, they are announcing plans to help private companies in identifying and mitigating such attacks, george.