Facebook’s Mark Zuckerberg would be in jail under proposed new privacy law

Facebook CEO Mark Zuckerberg would be in jail now under the terms of a proposed new privacy law which would hold company execs personally responsible for their company's failings.

Under the proposed Mind Your Business Act, senior company executives could go to prison for anything up to 20 years…

On Thursday, Sen. Ron Wyden, a Democrat from Oregon, proposed legislation he said would bring meaningful punishments for companies that violate people's data privacy, including larger fines and potential jail time for CEOs.

“Mark Zuckerberg won't take Americans' privacy seriously unless he feels personal consequences,” Wyden said in a statement. “A slap on the wrist from the FTC won't do the job, so under my bill he'd face jail time for lying to the government.”

The Mind Your Business Act is an update to Wyden's Consumer Data Protection Act, which he proposed last November. The lawmaker said he spent the past year listening to privacy experts on what to add to the original proposal […]

Wyden's legislation have the harshest penalties among the flood of data privacy laws proposed in the last year. These punishments include 10 to 20 years in prison for senior executives that lie about their privacy standards.

The fines would also be heftier, going up to 4% of the company's annual revenue for a first-time offense.