Adrian Johnson
TLDR:
– New cybersecurity law in Minnesota goes into effect on Thursday
– Law requires nonbanks to develop cybersecurity programs, respond to events, and notify Commerce about breaches
Summary:
The new cybersecurity law in Minnesota, which goes into effect on Thursday, aims to enhance online security and protect user data. The law requires mortgage, money services, and consumer finance nonbanks to implement cybersecurity programs to prevent and manage cybersecurity events. These institutions must also have incident response plans in place and notify the Commerce department about breaches affecting 500 or more consumers within 45 days. Vince Guera, a local computer technician, emphasized the importance of these requirements in today’s digital age. Minnesota is the first state to pass three model acts for consumer protection in cybersecurity.
With cyber attacks on the rise across the nation, this law serves as a proactive approach to safeguarding sensitive information and ensuring prompt responses to security incidents. The collaboration between lawmakers, the Commerce department, and businesses highlights the growing importance of cybersecurity in protecting consumer data. Through this legislation, Minnesota sets a precedent for other states to follow in enhancing online security measures and safeguarding user information from potential breaches and cyber threats.
