Category Archives: legislative trend

Lege Trend. +1 State Adding More Stringent Notification & Mandating Identity Theft Services

State: Delaware

 What is HB 180 in Delaware trying to do?

  • Improve notification requirements
  • Require 1 year of identity theft mitigation services when Social Security numbers are breached
  • Require businesses to safeguard personal information
  • Require notice to Delawareans affected by a breach within 60 days of discovery
  • If more than 500 residents impacted, the Attorney General must be notified

If passed, Delaware would be state #2 to require ID theft services after a breach.

News.Delaware.Go…

Lege Trend. Link Licensing to Data Security Standards.

Legislative body is located where? Australia

What triggers licensing issues when failing to meet data security standards? 

  • Licensing enforcement is triggered only for companies valued at greater than $3 million in revenue

The goal: Move data security to the forefront with business leadership

Intelligent Insurer | New data breach reporting legislation deemed cyber game changer in Australia

Lege Trend. Small Business Cyber Protection Bills. 3 Key Points.

the federal legislation: Making Available Information Now to Strengthen Trust and Resilience and Enhance Enterprise Technology (MAIN STREET) Cybersecurity Act

how it helps small businesses: Adds small businesses to the list of things that the National Institute of Standards and Technology must consider  when updating its voluntary guidance on how to guard against cyberattacks. 

the state commission recommendation: Missouri’s Cybersecurity Task Force recommended increased support for small…

Anatomy of a State Election Hack. 3 Key Points.

The state: Illinois

The election data target:  no specific data target, it was a broadly executed hack on the Illinois election system

The hack:  Retrieving voter information via voter identification number starting at “000000001 and incrementally adding one” digit

The Hill | Illinois voting records hack didn’t target specific records, says IT staff

+1 State. Data Security Requirements for Finance.

First came New York. Now comes Colorado promulgating cybersecurity rules on their financial sector. 

The Colorado proposal will apply to:

  • financial advisers
  • broker-dealers
  •  entities with state securities licenses

The Colorado rules will require securities licensees to:

  •  conduct an annual assessment of their cybersecurity risks
  • require written policies and procedures explaining how they are protecting clients’ personal and financial information

Bloomberg Law | Colorado Moving to Set…

Lege Trend. 8 Elements. Data Breach Notification that outs the hackers.

South Africa recently enacted a new data breach notification law that requires companies to:

  • Notification by the company will have to factor in the needs of law enforcement
    • Delay is only permitted if it undermines or impedes an investigation
  • Companies are asked to restore the integrity of their information system.
  •  Notification itself must be in writing  either via email or regular mail 
  • Alternative notification if mail fails, is  prominent position on the website, published in the…

TREND. Fintech. Data Security. New Study. 3 Keys to Government Oversight.

Federal Agency Regulatory Oversight option(s):

  •  FTC
  •  Consumer Financial Protection Bureau
  •  Office of the Comptroller of the Currency

4 identified data security areas in fintech:

  • marketplace lenders
  •  mobile payments
  •  digital wealth platforms
  • distributed ledger technology

Balance data security protections with the 3 benefits of fintech:

  • lower costs
  •  faster service
  • expanded access to credit

The Recorder | GAO’s Fintech Report Highlights Data Security, Lack of Clarity on Regulatory…