The British Virgin Islands proposed new legislation seeks to penalize for data leaks in the financial services industry, but may also deter individuals who leak secret data and media houses who publish those leaks from divulging certain types of information.
The new legislation follows a year of revelations based on secret BVI information that was leaked to International Consortium of Investigative Journalists (ICIJ).
Computer Misuse and Cybercrime Act 2014 has been tabled by Premier and Minister of Finance, Hon. Dr. D. Orlando Smith, and proposes stiff penalties ranging from imprisonment up to 20 years to a fine not exciting $1 million.
It is proposed that once enacted, the law will cover information divulged prior to its enactment and commencement. The Bill still has to be debated by legislators before it can be passed.
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