New Cybersecurity Law Could Change Business Security Practices

An influx in cyberthreats this year has led to the introduction of more and more cybersecurity laws. Last week, New York State Senator Leroy Comrie introduced the “It’s Your Data Act”, which is still in the legislation process. If passed, it would require a new “right of privacy” from New York’s civil rights law. In addition, it would add additional privacy laws to preexisting business laws and it would impact businesses with over $50 million in revenue. Overall, this bill would require businesses to disclose more information to its consumers and these consumers would have additional privacy rights. One major change that would result from the “It’s Your Data Act” is that in the event of a data breach, the business would be required to pay $750 per consumer per violation. While this proposal would change businesses relationship with cybersecurity and privacy, there is still time before it actually becomes a reality.
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