In a world where every bit of data can be transferred by a simple keystroke, the idea of a cyberattack is a very real—and scary—possibility.

The trade group Business Roundtable is making a push for greater cooperation and collaboration with the government, the Wall Street Journal reported last week, while at the same time maintaining the business community’s opposition to new government-imposed security regulations.

“The business of cybersecurity is more like intelligence and counter-espionage than security where you put up physical guns and guards. That’s a very poorly matched defense,” said Ajay Banga, chief executive of MasterCard, Inc., and head of the Business Roundtable’s information and technology committee. In other words: Barriers will do no good unless you’re aware of what threat is coming—and how.

Business Roundtable officials want information from the government on cyberthreats in exchange for tightening up their own security at larger companies. Such a system would require more security clearances for private-sector employees exposed to classified information, and possibly legislation that would outline how sensitive data would be passed between corporations and the government.

Why now?

Cyberthreats to data security, from WikiLeaks’ release of more than 90,000 classified military documents to Iranian cyberattacks on world banks, have heightened concerns about prevention and made more corporations scrutinze their own security measures.

The problem is gaining attention worldwide. In a recent development, Singapore beefed up its cybersecurity regimen: An amendment to the country’s Computer Misuse Act allows the government to order a person or organization to act against any cyberattack before it’s begun. Penalties for noncompliance are tough: up to 10 years in jail and a $40,000-plus fine.

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