Bill would punish retailers leaks of personal data
In a step could set a precedent for other states, the legislature in Massachusetts found that the legislation would require a retailer to pay for losses when hackers and thieves of their security systems to steal a map credit and other financial information.
At the moment, banks in general, remain stuck to fraud credit card losses last year a total of over $ 2 billion. If passed, Massachusetts account - the first of its kind - each company, whether a dealer, bank data processor, financially liable, when the system operator is that chopped. The bill does not refer to other types of credit card fraud, as perpetrated by a lost or stolen card.
More than 35 countries have submitted data and violation of laws on consumer protection, but they are relatively docile - only companies to warn consumers of potential theft if their computer systems were injured.
The Massachusetts bill, sponsored by Rep. Michael A. Costello, goes even further. It would mandate that companies whose security systems are opposed to full financial responsibility for any fraud in the context of losses, costs related to the cancellation and reissue cards and, in case of identity theft — freezing accounts and credit information. The bill would have for each undertaking commercial activity in Massachusetts, where she is based.
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