Starwood Marriott falling victim to data breaches. However, small and medium-sized businesses are often prime targets for these cybersecurity attacks, due to the fact that many smaller companies typically spend less on cybersecurity measures than larger corporations. No matter the size of the company, recovering from the breach presents similar challenges.
Cybercrime Magazine states that cyberattacks are the fasting growing crime in the U.S. with an estimated worldwide cost of $6 trillion annually by 2021. As cyber criminals get more resourceful it is crucial for a company to have a cybersecurity policy in place to be prepared for the impact of a cyberattack.
U.S. financial institutions should prepare for potential new regulations around data privacy and protection, digital identity verification and the use of biometrics, says OneSpan's Michael Magrath.
At CES 2021, executives discussed the future of online consumer protection
Twitter s Damien Kieran argued that patchwork regulations could disrupt the platform experience.
Photo Illustration: Trent Joaquin January 13, 2021
Data privacy has taken center stage in recent years, as the European Union and the state of California have each adopted landmark consumer protection laws that have paved the way for wide-scale change. And while major tech companies are still adjusting to a growing patchwork of regional regulations, they are also readying for a potential federal data privacy law in the United States.
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Is it hyperbolic to say that never before have we seen a quieter, yet more anticipated and welcome end to a year than in 2020? For some, 2020 is a year the sooner forgotten, the better. In data privacy and security law, a lot happened. Here are five musical references to remind what a tremendous year 2020 was.
California Dreamin’. In January 2020, the California Consumer Privacy Act (CCPA) become effective. Yes – that’s hard to believe, given that it feels like we’ve been talking about CCPA forever. Certainly CCPA lived up to the hype. The three sets of draft regulations released by the California Office of the Attorney General helped, as did the class action litigation. And now, we have the California Privacy Rights Act (CPRA) to close out 2020.