Amid the rising incidences of cyber attacks on big companies like Sony Corp. and Target Corp., US President Barack Obama on Monday proposed a legislation that protects the consumers who become victims of such cyber thefts.
The White House on Monday released a fact sheet detailing the plans of the President about his proposed law to check the menace of cyber hack.
According to the fact sheet, Obama will give an outline about the proposed cyber security and identity theft platform during his speech at the Federal Trade Commission.
Obama said that most people in the United States lives under the threat that their online personal data isn’t safe.
According to the experts, the plans related to cyber security are the latest in a series of the domestic policy priorities set by the Obama administration ahead of the President’s State of the Union speech to Congress on January 20.
As per the government’s proposed cyber security legislation, the companies that have faced any such cyber data loss require to notify their customers who are at risk of the hack. The proposed plans also criminalize the overseas trade in fraudulent identities. Under the proposed law, the hacked companies get 30 days from learning of a breach to inform their customers about the cyber crime and the quantum of risk of data loss.
Obama will also make announcement regarding the partnership of companies like Bank of America Corp. and JPMorgan Chase & Co. with Fair Isaac Corp. to offer free credit scores to credit card customers. According to the White House, the offer aims at making it easier for customers to notice identity thefts online.
Obama will also address the issue of digital privacy of students. The government intends to bring a legislative proposal in order to protect data collected from the students that are used for educational purposes.
Obama is also planning to promote access of broadband Internet services ahead of the State of the Union speech next week.