Data Breach Prevention and Compensation Act of 2018
This bill creates the Office of Cybersecurity within the Federal Trade Commission (FTC) that, in part, must:
supervise, evaluate, and regulate specified agencies' management of data security;
examine agencies annually for compliance with regulations;
investigate an agency in the event of a breach covered by the bill or suspected noncompliance with regulations, and report on any findings of such investigation; and
coordinate with the National Institute of Standards and Technology and the National Cybersecurity and Communications Integration Center of the Department of Homeland Security.
The office is authorized to: (1) investigate an agency's compliance with regulations regarding any data breach, and (2) enjoin an agency from violating specified regulations.
Specified consumer reporting agencies, in part, must:
provide the office with information relating to security measures,
demonstrate reasonable data protection measures, and
notify the FTC of a covered breach.
The bill establishes civil penalties for violations and directs the FTC to enforce compliance.