Cybersecurity companies make it their business to stay on top of the latest security threats and trends, including compliance regulations. Last month, a US senator proposed a new data protection bill. Depending on the size and service of your business, this could affect how you handle customer’s data.
The senator argued that the FCT Act does not address all of the challenges associated with data protection. For example, fines are not immediately imposed for a violation of privacy. Instead, companies are sent a consent decree which, if they break, can then result in a fine. The senator emphasized the need for a federal data protection agency entirely focused on protecting individuals’ privacy.
The agency that the senator proposed would serve in a referee type of position to protect personal data. It addresses the fact that the United States does not yet have a dedicated body in place for enforcing data privacy rules. This protection agency, if established, will have three core missions:
- Enforce data protection rules
- Promote privacy innovations
- Advise on emerging privacy issues
According to Cyware, each of these different missions are designed to help “prepare America for the digital age.” Cybersecurity companies will tell you that most of the cybercrime starts once personal data is stolen. This new data protection bill could be a game-changer for individuals and businesses alike. If passed, it would apply to any company with a revenue of over $25 million or to any company that manages the personal data of 50,000 or more individuals.
At StratoZen, we can help you stay current with new compliance regulations and trends. Our SIEM-as-a-service meets many regulations such as HIPAA, the Gramm Leach Bliley Act, Sarbanes Oxley Act and PCI DSS compliance. Visit our website today to learn more!