On June 13, US and UK governments announced that they are developing prize challenges focused on advancing the maturity of privacy-enhancing technologies (PETs) to combat financial crime. The announcements highlight that up to $2 trillion of cross-border money laundering takes place each year. The White House explained that PETs could address financial crime through maturing technologies, which allows machine learning models to be trained on high quality datasets, without the data leaving safe environments. PETs also facilitate privacy-preserving financial information sharing and collaborative analytics; allowing suspicious types of behavior to be identified without compromising the privacy of individuals, or requiring the transfer of data between institutions or across borders.

Continue Reading US, UK Collaborate on Prize Challenges for Privacy-Enhancing Technologies

The Department of Defense recently provided some clarity on the timeline for implementation of its Cybersecurity Maturity Model Certification (CMMC) program. The DoD now expects to complete documentation to submit to the Office of Management and Budget for its rulemaking process by July 2022. And, it plans to issue interim final rules by March 2023. If DoD sticks to this new timeline, the CMMC requirements could begin appearing in solicitations for government contracts as early as May 2023 (60 days after the rules are published). 

Continue Reading Updated Timeline for DoD’s Cybersecurity Certification Program

Maryland recently passed two companion bills amending the state’s Personal Information Protection Act. The bills modify the data breach notification requirements and scope of businesses subject to the data security requirements. The key changes are summarized below, and will go into effect October 1 of this year:

Continue Reading Maryland Amends Data Security and Breach Notice Obligations

On June 7, Sen. Sherrod Brown (D-OH), Chair of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Treasury Secretary Janet Yellen to request a review by the Financial Stability Oversight Council of financial institutions’ consumer data activities and their potential threat to U.S. financial stability and security. The letter raised concerns that this information may be sold to third-party purchasers or data brokers who compile it with personal data collected from other sources often associated with advertising and exploited for other uses. The Committee also raised concerns that such data could be used for nefarious purposes including “glean[ing] consumers’ tolerance for price hikes, or using certain people’s spending patterns to target them for blackmail or ransomware.” 

Continue Reading Senate Banking Committee Sends Letter to Yellen on Collection, Use of Consumer Data

The FTC recently took two well-publicized steps in the children’s privacy space. First, it penalized WW International (formerly, Weight Watchers) and its subsidiary, Kurbo, for alleged COPPA violations. Second, it unanimously voted to adopt a new policy statement on education technology and COPPA. These actions follow its March COPPA settlement with TickTalk Tech.

Continue Reading FTC Continues Focus on Children’s Privacy