New bill asks companies to notify EU of security breaches
Proposed legislation in the European Union would force tech companies that have access to user data -- such as Facebook, Google, and Microsoft -- to report any security breaches to local cybersecurity agencies, the Financial Times reported today.
This is the European Commission's effort to make private companies accountable for privacy and security problems, European Commission Vice President Neelie Kroes told the Financial Times.
If passed, the measure would require each of the EU's 27 member states to set up local cybersecurity agencies to implement security standards on online networks. Social networks, e-commerce companies, and large online platforms … Read more