Cnet is reporting on a strict new Consumer Data Protection Act proposed today by Senator Ron Wyden from Oregon.
Senator Wyden has been at the forefront of cybersecurity and privacy issues in the Senate; his new draft bill introduces harsh penalties for companies that violate consumer privacy. The bill would apply to companies with more than $50 million in revenue andpersonal information on more than 1 million people.
Colin Bastable, CEO at Lucy Security:
Pravin Kothari, CEO at CipherCloud:
More on the Data Privacy Tsunami
“Beyond both proposed pieces of legislation, the web of cyber data privacy laws continues to grow both in volume and complexity. Two new laws are now effective as of early this month. Colorado expanded a statute on data privacy to add definitions about the type of data to be protected, and a 30-day breach notification, from the time that the company has determined that a breach occurred. New York state’s department of financial services revised a cybersecurity regulation to require risk assessments by application, to require policies that limit the retention of data, and to monitor access to information, and to encrypt all nonpublic (private) information at rest and in transit.
Consider all of this also follows in the much larger wake of the newly enacted General Data Protection Regulation that just went into effect in May, which has huge impact on U.S. businesses, and in the growing shadow of the pending U.S. Cloud Act, the U.S. Encrypt Act, and California’s new Consumer Privacy Act (effective 2020). All of this new regulation sets the bar higher than ever before for U.S. companies. This contributes to the growing common sense mandate for Federal omnibus legislation.”
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