Bipartisan Senators Introduce Data Security Bill The Hill (01/15/14) Hattem, Julian Sens. Tom Carper (D-Del.) and Roy Blunt (R-Mo.) say they are introducing the Data Security Act to protect consumers from identity theft and fraud stemming from data breaches. The senators say the bill establishes uniform national data security standards instead of the existing patchwork of state laws. “As the recent incidents involving Target and Neiman Marcus remind us, major data breaches that compromise consumers’ identities and financial security are becoming more routine,” Carper says. “We cannot allow technology advances to outpace the security measures in place to safeguard the transactions we conduct in person and online.” The legislation requires retailers, banks, government agencies, and other institutions to protect sensitive data and notify people if there is a risk of fraud or identity theft. If an institution detects a data breach, it would be required to investigate what type of information may have been compromised, and determine its extent and whether the data stolen could be damaging. They also would be required to inform federal agencies, the police, and consumer reporting organizations about any breach affecting more than 5,000 consumers
Posted on: Thu, 16 Jan 2014 19:50:34 +0000