Submitted via IRC for chromas
Sen. Ron Wyden Introduces Bill That Would Send CEOs to Jail for Violating Consumer Privacy
Oregon Senator Ron Wyden has introduced a comprehensive new privacy bill he claims will finally address the lack of meaningful privacy protections for American consumers.
Wyden says his Consumer Data Protection Act is a direct response to the ocean of privacy scandals that have plagued the internet for the better part of the last decade.
The Senator's proposal would dramatically beef up Federal Trade Commission authority and funding to crack down on privacy violations, let consumers opt out of having their sensitive personal data collected and sold, and impose harsh new penalties on a massive data monetization industry that has for years claimed that self-regulation is all that's necessary to protect consumer privacy.
Wyden's bill proposes that companies whose revenue exceeds $1 billion per year—or warehouse data on more than 50 million consumers or consumer devices—submit "annual data protection reports" to the government detailing all steps taken to protect the security and privacy of consumers' personal information.
The proposed legislation would also levy penalties up to 20 years in prison and $5 million in fines for executives who knowingly mislead the FTC in these reports. The FTC's authority over such matters is currently limited—one of the reasons telecom giants have been eager to move oversight of their industry from the Federal Communications Commission to the FTC.
(Score: 4, Insightful) by Snotnose on Saturday November 03 2018, @01:25AM
But it's a step in the right direction.
Can't send the CXX's to jail? Fine the company enough that not only do they lose their bonuses and stock options, but they're underwater for the year. Hell, fine the company enough that none of the CXX's get a bonus for a good 5 years.
Then sic Robert Mueller on their tails with an unlimited budget and no time horizon.
Why shouldn't we judge a book by it's cover? It's got the author, title, and a summary of what the book's about.