The United States Justice Department has put forward new rules to protect federal government and Americans’ bulk data from foreign access through placing new limits on certain business transactions, says Reuters.
The proposal implements an executive order from earlier this year that aims to keep foreign states from accessing American financial and genomic data and health data for cyberattacks, espionage and blackmail.
The financial damage caused by cybercrime in the US reached a new record of $12.5 billion last year, reports Statista.
The rules – including a ban on transferring the geolocation data on over 1,000 US devices – would apply to China, Russia, Iran, Venezuela, Cuba and North Korea.
Those behind the plans said that transactions would be banned with data brokers who know information will end up in ‘countries of concern’.
Source: Norvanreports