It also authorizes DOJ to seek an injunction or restraining order to prevent disposition of property obtained as a result of such a violation.
The legislation expands the list of money laundering predicate offenses to include financial transactions that involve proceeds of unlawful manufacturing, distribution, possession, and advertising of wire, oral, or electronic communication intercepting devices.
This bill requires certain commercial entities to implement a comprehensive consumer privacy and data security program.
Commercial entities must notify any U.S. resident whose PII has been, or is reasonably believed to have been, accessed or acquired. PII includes electronic or digital forms of personal, financial, health, and biometric data, geographic location, and password-protected photographs and videos.
It sets forth provisions regarding: (1) methods and content of notification of a security breach; (2) entities exempt from notification requirements; and (3) notification to consumer credit reporting agencies, law enforcement entities, and the Federal Trade Commission (FTC).
It authorizes DOJ, the FTC, and states to enforce civil violations. DOJ and states may seek monetary or injunctive relief, and the FTC may seek monetary relief. The bill does not establish a private right of action.