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The Business Alert On April 28, 2021, the FTC issued a business alert reminding corporate boards to make data security a priority and to advocate implementing a top-down approach to the issue. The alert warns: “In addition to the significant costs to consumers, data breaches, network intrusions, and looming cyber threats can open up a firm to substantial financial costs, reputational hits, and legal liability.” The Business Alert suggests that data security begins with corporate Board of Directors instead of the IT Department. The Recommendations FTC staff offered five “common-sense recommendations for conscientious directors.” Make data security a priority. This includes building a team of stakeholders from across the organization and holding regular security briefings. ....
To embed, copy and paste the code into your website or blog: Digital giants and other data-driven businesses that have moved their companies from the United Kingdom to Ireland in the wake of Brexit could soon be bracing for a new shake-up in light of legislation recently proposed in the United States by Oregon Senator Ron Wyden. The draft bill, Protecting Americans Data From Foreign Surveillance Act (the Act), would ban the sale of Americans personal data not only to unfriendly foreign countries who pose a threat to national security, but also to countries without adequate data protections in place. While primarily aimed at China and Russia, the Act s reach could extend to countries like Ireland, which so far has failed to impose serious fines for General Data Protection Regulation (GDPR) violations. Having strong regulations in place under the Act is not enough if those regulations are not being enforced. ....
Connecticut is the latest state to introduce consumer privacy legislation. If enacted, the Connecticut Act Concerning Consumer Privacy (The Act) would join the existing nationwide. ....
Determines the purposes and means of processing consumers personal information. The bill defines a consumer as an individual who is an Alabama resident, however identified, including by any unique identifier. The ACPA does not provide any minimum thresholds based on the amount of personal information collected, revenue attributable to the sale of personal information, or annual gross revenue. What type of information would it cover? The bill defines personal information to include identifiers of a consumer or household (e.g. name, alias, email address), characteristics of protected classifications under state or federal law, biometric information, medical information, geolocation data, professional/employment-related information, non-publicly available education information, and commercial information. ....
To embed, copy and paste the code into your website or blog: Maine has become the latest state to adopt a version of the National Association of Insurance Commissioners (NAIC) model cybersecurity law. Signed into law on March 17, 2021, the Maine Insurance Data Security Act establishes investigation procedures, data security program standards, and notification requirements for persons authorized or registered to operate pursuant to the insurance laws of Maine (licensees), with the aim of protecting the security and confidentiality of non-public information and the security of the licensee s information systems. Licensees with fewer than ten employees are exempt. Like the NAIC model law and the New York State Department of Financial Services Cybersecurity Regulation that inspired it, the Act requires licensees to develop, implement, and maintain a written information security program to protect the licensee s systems and non-public information. These programs must be propor ....