Seeing the increase in online breaches and scandals, state and federal lawmakers are aiming and pushing for stringent and tighter privacy laws. It is now becoming more expensive to remain private. It is since the year 2017 that the Congress has been working on a Data Security and Breach Notification Act.
There is a new data protection agency which is being created and is likely to replace the Federal Trade Commission. As per a study, the data protection and recovery solution market might reach to around $14.1 billion by the year 2025.
However, though majority of Americans would like less data to be collected by online services they are not willing to spend so much for privacy protection. Certain studies highlight that data is going to be the main topic this year.
The year 2005 saw around 8,200 data breaches which exposed around more than 1.05 million records. As in the year 2017, the data breaches reported were around 1,579 data breaches which saw a 45% increase over the previous year.
It was in the year November 2018, that Facebook got hacked by hackers who gained access to the private messages of nearly 120 million Facebook accounts.