Elizabeth E. McGinn quoted in Cyberscoop article, “FTC wants to know when financial data is compromised, will require encryption”
CyberscoopElizabeth E. McGinn
Elizabeth E. McGinn was quoted in a Cyberscoop article, “FTC wants to know when financial data is compromised, will require encryption,” which examined updated rules the Federal Trade Commission is considering that would require financial institutions to report within 30 days any security incidents in which misuse of customer data of at least 1,000 customers likely occurred.
The article noted how financial institutions already operate under more stringent breach reporting requirements than most other U.S. industries. McGinn added, “I don’t think that some of the things they asked for, in general, would be a big surprise to companies.”