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NY AG Proposes Stricter Data Security Laws Citing Equifax Breach
Following the Equifax Inc. breach that compromised personal information of 145.5 million Americans including more than 8 million New Yorkers, Attorney General Eric Schneiderman is proposing comprehensive legislation to tighten data security laws and expand protections.
The Stop Hacks and Improve Electronic Data Security (SHIELD) Act, introduced in November in the Legislature, would require companies that handle New Yorkers' sensitive data to adopt “reasonable administrative, technical and physical protections for data” regardless of where the company is headquartered, Schneiderman's office said in a news release. It would cover credit reporting agencies such as Equifax as well as many other types of companies that collect personally identifiable information on individuals.
The Attorney General's Office said it received a record 1,300 data breach notifications in 2016, a 60% increase over the previous year.
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