Money to be set aside to set up dedicated bureaus to fight identity theft, improve data security and privacy
WASHINGTON – The US House Energy and Commerce Committee on Tuesday voted to give the Federal Trade Commission $1 billion to improve data security and privacy and establish a bureau dedicated to fighting identity theft.
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The proposal, which was included in the $3.5 trillion spending measure by Democrats, is said to address “unfair or deceptive acts or practices relating to privacy, data protection, identity theft, data abuse and related matters” over 10 years. Will fund a new bureau. A summary issued by the panel.
The committee started work on the comprehensive spending proposal on Monday and continued on Tuesday evening as well.
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The FTC, which enforces antitrust laws, has taken on the task of motivating corporations to better protect consumer data and privacy as it enforces rules against deceptive practices.