Cyber Breach Reporting Mandated for Companies, Agencies in Bill

July 21, 2021, 10:00 AM

Federal agencies and critical infrastructure operators such as energy companies and hospitals would have to report cyber intrusions within 24 hours to the Department of Homeland Security or face penalties, under a bipartisan bill unveiled Wednesday.

The legislation from Senate Intelligence Chairman Mark Warner (D-Va.), Vice Chairman Marco Rubio (R-Fla.), and Sen. Susan Collins (R-Maine) is the most substantive congressional effort this year to address the spike in cyber and ransomware attacks on federal government and private companies following the Solarwinds Corp. and Colonial Pipeline Co. hacks. The bill also boasts the support of 12 key Republican and Democratic cosponsors. ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.