Business Privacy

Proposed Legislation Could Mean Massive Fines, Prison Time for Execs Who Violate Privacy Standards

The Infinite Brief
A senior Democratic U.S. senator on Thursday unveiled draft legislation that would allow hefty fines and as much as 20-year prison terms for executives who violate privacy and cybersecurity standards.

The legislation would grant the Federal Trade Commission authority to write privacy regulations.

The measure would also allow maximum fines of 4 percent of revenue – matching European rules adopted earlier this year.

The law would also create a national “Do Not Track” system to stop companies from tracking internet users by sharing or selling data and targeting advertisements based on their personal information.

Curated from Reuters

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