Below are some summaries and excerpts of the legislation. Interesting part is the detailed explanation of what is considered a "breach" or "cybercrime" and their penalties.
Part 1 updates for law enforcement
Part 2 Data Breach Notification ActLast week President Obama announced his proposal for updates to US cybercrime law. While I am not a lawyer, I have spent a significant amount of time poring over the legal documents to extract their meaning and provide my comments.
Currently 47 states have data breach notification laws with varying rules and requirements. This makes it very difficult for national and multinational organizations to understand when they must report lost or stolen data and how they must report it. The idea of a national law in the US has been debated for a couple of years now, and this proposal seems to strike a nice balance.