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U.S. Government to Offer Cyber-Security Incentives

( ) - Security Breaches in 2014 in the U.S prompted reforms on cyber security laws. State Attorney General, Eric T. Schneiderman came up with a comprehensive report which showed that the number of security breaches reported in the State of New York between 2006 and 2013 had almost tripled, a trend which was alarming. Schneiderman announced a creation of new law after the proposal of President Obama.
Expectations with cyber security Law
Robust and comprehensive
Increase protection for customers
In most of the states in the U.S., companies’ are only required to report a theft of passwords and e-mail addresses. Regardless of this, there are still quite many businesses that report security breaches to authorities in light of upholding transparency in the organization. It is however not a legal requirement to do so.
In a case of a security, breach companies were only expected to notify those whose information is compromised and not the authorities, with proposed new cybersecurity law.