Feb 24 2016

Government to Reward Businesses for Cybersecurity Info Sharing

The federal government is encouraging private industry to share their cybersecurity risks and will grant them legal immunity if they do.

The federal omnibus appropriations package passed in December provides for a unique security information sharing agreement between government and business.

Companies that voluntarily share threat information with the government through a Homeland Security Department portal can receive liability protection in the event of a breach.

The legislation could reduce legal barriers to information sharing, thereby encouraging greater and timelier cooperation that should better protect private data and information.

The Justice Department will work with Homeland Security to draft policies to protect civil liberties. Businesses of all sizes, from Wal-Mart and Target to the local hardware store, can partake in the program once it’s fully stood up.