But he added: "We're seeing a migration of traditional organised crime groups over into cyber, exploiting a new type of person engaged in crime who tends to be young, technically sufficient, very good at maths and physics, but perhaps not your traditional criminal figure in the outside world".
These cyber exploits range from the teenage gamer cracking websites for fun to the criminal syndicate stealing payment card data for easy money to foreign intelligence agencies looking for state secrets they can exploit to beat their adversaries economically and militarily.
Governments are ill-prepared to combat the looming threat of "online murder" as cyber criminals exploit internet technology to target victims, the European policing agency warned.
He also cited a cyber-exploit last year where malicious software – malware – infected thousands of military computers, as well as the cyber-attacks, presumably from Russia, that crippled Georgia's digital infrastructure before Russian tanks rolled in.
Obama's speech aimed to answer how the US would defend itself from such cyber-exploits and attacks.
These cyber attacks often exploit a vulnerability known only to the attacker.
It is envisioned that similar to micro-communities in a human society, neighboring buildings will have the tendency to form a building cluster, an open cyber-physical system to exploit the economic opportunities provided by smart grids and distributed energy systems.
A team of academics claims an unsophisticated type of cyber attack that exploits "flaws" in the Visa card payment system was probably used to defraud Tesco Bank customers of £2.5m last month.
Many were worried that with proof of concept code already being shared it would only be a matter of time before cyber thieves started exploiting the vulnerability.
The basic idea is to improve the performance of the code on heavily vector-oriented machines such as the Cyber 205 by exploiting the fact that nearby particles tend to have very similar interaction lists.
The U.S. and E.U. countries still can lead international manufacturing by exploiting Cyber Physical System (CPS) technologies such as wireless system integration, wireless controls, machine learning, and sensor-based manufacturing.
