Another important piece of pending legislation, the national Consumer Data Protection Act (CDPA) has been introduced in the Senate in late 2018. The CDPA was introduced by Senator Ron Wyden (OR) and brought to the Senate in discussion form just this past week as SIL18B29. The Consumer Data Protection Act will apply to companies with revenue over $50 million and which have the personal information on more than one million people stored within their databases. The Federal Trade Commission (FTC) would manage the new regulation although it not clear just yet how much initial funding they would receive. The regulation is very much like the European Community General Data Protection Regulation (GDPR) which became operational in May 2018. The FTC would also be able to issue fines up to 4 percent of the company’s annual revenue, which is also the same percentage as per the GDPR. Unique to this data privacy legislation is the notion “Do No Track” website, which allows Americans to opt out of data sharing across the internet. In our blog in early November 2018, we covered another related piece of data privacy legislation, Senate Bill S.2289. This bill, the Data Breach Prevention and Compensation Act, introduced as S.2289 in the Senate on 1.10.2018, creates an Office of Cybersecurity within the Federal Trade Commission (OCS-FTC). The DBPCA was proposed by Senators Elizabeth Warren (MA) and Mark Warner (VA) earlier this year and continues to gain momentum. All of this new regulation sets the data privacy compliance bar higher than ever before for U.S. companies. CipherCloud’s award-winning cloud access security broker (CASB+) can help meet all of the requirements detailed within the Consumer Data Protection Act for enhanced visibility, data security, and threat protection. Our Zero Trust end-to-end encryption provides the strongest and most comprehensive data protection available. Our Data Loss Prevention can track, identify, and restrict the upload of sensitive data, or automatically provide for encryption or tokenization. Our native Digital Rights Management can track and restrict how this data is downloaded into mobile devices, and then protect this data comprehensively. Learn more about how we can help – request a CASB+ trial today.
*** This is a Security Bloggers Network syndicated blog from CASB Vendors | Cloud Access Control Security Companies | CipherCloud authored by CipherCloud. Read the original post at: https://www.ciphercloud.com/post/the-new-consumer-data-protection-act-from-senator-ron-wyden-from-oregon