Cybersecurity
Executives May Face Jail Over Data Policies in Draft U.S. Bill
- Democrat wants to impose stiff consequences for data misuse
- Wyden’s bill an extreme departure from other policy proposals
Ron Wyden
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
A Democratic senator on Thursday released a draft bill that would impose steep fines and even prison time for executives at corporations that fail to adequately safeguard Americans’ personal data.
Under the bill, proposed by Oregon Senator Ron Wyden, the Federal Trade Commission would be allowed to assess fines of as much as 4 percent of a company’s annual revenue and impose sentences of as long as 20 years on corporate officers if companies are found to have violated privacy regulations.