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Federal Trade Commission (FTC) Deputy Director Daniel Kaufman has said companies experiencing substantial data breaches should face civil penalties, VentureBeat reports. If the agency had the mandate to parse out such penalties, he said, businesses would be more motivated to implement strong data privacy frameworks beforehand, limiting the number of large-scale breaches. He emphasized the importance for U.S. businesses to be more transparent and to self-regulate in order to remain competitive globally. The agency does not want to stifle innovation, he noted, adding, “We want to make sure there’s privacy out there, but we are aware there are huge benefits.” Kaufman also said the FTC is nearing completion of its data broker study.
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