Budd Introduces Treasury Innovation Act
Bill Aims To Help Secure America’s Financial Information From Data Breaches
“Major incidents of hacking in the private sector continue to underscore the need for strong data security,” said Rep. Budd. “Americans are required to turn over a host of financial information to the Treasury Department, and accordingly, we should be doing what we can to make sure that this information is as secure as possible.”
Washington, DC -- U.S. Representative Ted Budd (R-NC) introduced the Treasury Innovation Act today. The legislation aims to increase the security of Americans’ financial information by implementing an agency-wide “bug bounty” program within the Treasury Department. A “bug bounty” program is one where vetted computer professionals can apply to “hack” and attempt to penetrate any weaknesses within an organization's server, in this case, the Treasury Department. Other government agencies have like the Department of Defense have successfully used these programs to find weaknesses.