Booming cyber business starting to resemble 'Wild West?'

Thursday - 8/1/2013, 2:00pm EDT

Howard Schmidt, former White House cyber czar

Click here to listen to the interview on "In Depth" with Francis Rose

Download

Bounty hunters, black markets and hired guns are the new normal for the cyber world. Hackers are selling their services to the highest bidders and it's starting to make cyberspace look like a modern-day Wild West. And right now business is booming, according to a recent New York Times article.

Governments around the world are hiring hackers to look for so-called "zero-day" vulnerabilities — as yet unknown exploits in software.

Howard Schmidt, the former cybersecurity coordinator for the Obama administration, joined In Depth with Francis Rose to discuss the growing market in zero-day detection.

RELATED STORIES:

Agencies applying threat intelligence to stem tide of cyber attacks

DHS broadens public-private efforts to combat cyber risks