The proliferation of technology in our social fabric has made consumer data ever more accessible to companies, making data security a growing concern. According to a poll conducted by Polling the Nations, 92 percent of respondents wanted the Federal Government to put in a great deal of effort to combat cybersecurity threats. How then, is the government responding?
While cybersecurity vulnerabilities dominate news cycles, government intervention at the federal level is minimal. The National Institute of Standards and Technology (NIST) creates guidelines for best cybersecurity practices, but they are merely suggestions to help companies reduce cybersecurity risk. Some states have stronger protections, however. The California Consumer Privacy Act seeks to protect Californians’ right to data privacy and goes into effect in January 2020. A set of regulations from the New York Department of Financial Services places cybersecurity requirements on certain financial institutions, requiring them to implement cybersecurity programs and assess risks.