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Continued: Financial, retail industries keep cybersecurity mistakes and punishments secret

  • Article by: JENNIFER BJORHUS and JIM SPENCER , Star Tribune
  • Last update: February 23, 2014 - 4:10 PM

“I believe consumers deserve to know when security standards have been violated,” Klobuchar said.

Franken is prodding credit card companies, financial institutions and retailers to quickly adopt the more secure chip-based card technology used in Europe.

Meanwhile, he said, ­Leahy’s bill provides that “anyone handling the business of over 10,000 Americans would have certain requirements to manage their data security risks, test their system, train their employees.”

“There’d be greater transparency,” he explained, “because the FTC would have the right to sue these companies, and they would do that publicly.”

 

jennifer.bjorhus@startribune.com • 612-673-4683 jim.spencer@startribune.com • 202-383-6123

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