Intel Corp, the world-renowned silicon chip maker of America has taken the privilege of drafting a data privacy bill for the populace of United States. Moreover, the chipmaker expects a sponsorship for the bill from Congress that would shield companies from paying heavy penalties during cyber attacks-provided they attest to the US Fed Trade Commission annually that they take stringent measures to protect the data of their respective customers.
The bill which has been in discussion among Congress members last week says that the Federal and state officials can still force companies to change their data practices and even pay compensation when something suspicious is observed.
Intel bill also allows companies to be more transparent on how they process user data. And any/all repeat offenders could lose the right of protecting the data and executives who fallaciously certify their compliance may perhaps face criminal prosecution.
David Hoffman, the data privacy officer of Intel on a global note said that executives will fear about the clause which says imprisonment for those who do not offer best privacy protection.
Although Intel doesn’t collect much of its consumer data, it supplies its silicon wafers to companies like Facebook and Alphabet subsidiary Google which are known to indulge in some malpractices related to data privacy. The Cambridge Analytica data scandal of the Mark Zuckerberg led company stands tall as an example of such unlawful practices.
Marc Groman, the senior adviser on Privacy to White House said that Intel’s proposal should be taken seriously by the Congress if it cares for the US populace’s data concerns.
In Europe, the latest General Data Protection Regulations or GDPR came into effect in May this year which offer penalties of up to 4% of a firm’s global revenue.
Intel’s latest proposal caps fines at USD 1 billion unlike GDPR and doesn’t ask the companies to notify victims on the occasion of a data breach.