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Both the United States and European Union have been actively pursuing new regulations and legislation related to consumer privacy issues, data breach and data security, as well as investigations into competitive pricing and antitrust concerns. Consumer privacy regulations have also expanded in Latin America and Asia-Pacific over recent years.

Many legislative concerns today focus on consumer privacy. Countries in the EU are set to enforce regulations on user approval of cookies while the U.S. Senate reviews mechanisms for a Do Not Track process along with a Consumer Privacy Bill of Rights. A U.S. Senator accuses a business of breaking net neutrality rules while the Netherlands becomes the first country in the EU to enact net neutrality laws.

In recent years several countries in Latin America and Asia have enacted new consumer privacy protection regulations or have reinforced existing consumer data provisions to better account for electronic transmission of data and data breaches. This includes countries such as Brazil, Mexico, Peru, Uruguay and Costa Rica in Latin America, as well as Hong Kong, Korea, Vietnam and Taiwan in Asia.

Even though the FTC is seeking more ability to enforce consumer privacy protections, they are actively charging businesses with violating privacy policies as well, and the Department of Justice is investigating debit card interchange pricing after responding to the price cap set by the Durbin Amendment. Meanwhile, after consumer and business outcry killed SOPA and PIPA, the House approves the controversial CISPA bill, although it faces tough opposition from both business and government.

As government agencies enforce new and existing regulations while legislators deliberate and propose new ones, businesses without extensive legal teams may find it difficult to keep up with the changing requirements and procedures that affect their line of business. New and pending legislations affecting the internet and eCommerce business in the United States, European Union, Asia-Pacific and Latin America are summarized here.

 

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eCommerce Payment Professional

This career track is focused on individuals that have responsibility for the selection of the types of payments to be offered as well as the planning and oversight of product development around complex payment problems such as cross border support, tax, compliance and payment fee optimization.

This track provides individuals a well-rounded core understanding of eCommerce payment considerations and implications, allowing the payment professional to provide value and considerations for payment support across a multi-disciplined perspective. This online training track is focused on individuals who are responsible for an organization's strategic guidance related to payment functions.

Find out more information about the eCommerce Payment Professional online training and certification program.

 

Press Release:

New and Pending Legislation and Regulations Affecting eCommerce

Sarasota, FL, May 16, 2012 / Internal Release - Since the onset of the Internet in the early nineteen-nineties governments have adapted existing laws and regulations to apply them to new technologies while at other times finding the need to draft new legislation to keep up with the changing times. In 2012 we still see the legislative process trying to keep pace with technological change.

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The Department of Justice investigates Visa’s post-Durbin debit card pricing, the FTC investigates multiple internet companies for not abiding to their privacy policies, and antitrust experts investigate Apple and eBook price fixing in both the European Union and United States. While compliance with these regulations are investigated and enforced, new legislation and regulations are in the works as well.

EU Nations prepare to enforce new internet cookie regulations and the Netherlands becomes the first EU Member State to enact net neutrality laws, possibly setting the precedent for other EU members to follow suit. Meanwhile in the United States, the House of Representatives approve the controversial CISPA bill and the Senate holds a hearing to discuss Do Not Track and a Consumer Privacy Bill of Rights with the FTC and White House Administration. Consumer online privacy regulations have expanded in the Latin America and APAC regions as well.

As government agencies enforce new and existing regulations while legislators deliberate and propose new ones, businesses without extensive legal teams may find it difficult to keep up with the changing requirements and procedures that affect their line of business. Here we provide a summary of new and pending legislations, regulations and investigations affecting the internet, eCommerce and business in the United States, European Union, Latin America and Asia-Pacific. Each of these regions have been actively pursuing new regulations and legislation related to consumer privacy issues, data breach and data security, as well as investigations into competitive pricing and antitrust concerns.

New and Pending Regulations and Legislations Affecting eCommerce and Business
  Privacy Price/Business Regulations Data Breach/Security
United States
EU
APAC
New legislation in China to fight online copyright violations
Korea's Personal Information Protection Act includes breach notification requirements;
Latin America
Chile is world's first country to enact Net Neutrality Laws
Brazil's Data Protection Bill and Uruguay's Personal Data Protection Act both include data breach notification requirements

 

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About The Fraud Practice

The Fraud Practice, http://www.fraudpractice.com, is a privately held US LLC based in Sarasota, Florida. The Fraud Practice provides consulting services on eCommerce payments, fraud prevention and credit granting as well as prepared research and online training for payment and fraud professionals. Businesses throughout the world rely on The Fraud Practice to help them build and manage their payment, fraud and risk prevention strategies.

Contact:

The Fraud Practice LLC
David Montague,
President and Executive Consultant
Toll Free: +1 888-227-0402
dmontague@fraudpractice.com

Additionalresources

  • introduction to Common Compliance and KYC Requirements for Ecommerce.

    Covers the basic regulatory programs related to compliance within the USA indicating the core requirements and who is required to comply. This session covers topics such as KYC, SOX, PCI, OFAC, AML, SARS, Privacy notices, FRCA, Breach Notification, Export and Denied Party lists. Additionally discusses requirements similar to KYC and SOX internationally as well as several EU Directives relevant to eCommerce.

  • Financial Institutions Finding Ways to Recoup Lost Debit Interchange Revenue.

    According to estimates, the Durbin Amendment will eliminate $6.6 billion in annual revenue for affected financial institutions. But these financial institutions are finding ways to regain revenues lost to debit interchange reform while creating new debit disincentives.

  • Managing Fraud Related to ePayments in a Business
    Planning got eCommerce Tax Implications for Global Operations.

    Covers the tax implications of doing business globally indicating the level of tax complexity by region and methods for simplifying tax calculation and submittal. Includes concepts and definitions such as Tax Nexus, Use Tax, VAT, and more.