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The Small Penalty For Big Data Breaches: Page 4 of 4

Varney says she is skeptical that legislation can be created that would be effective because commercial interests are too great.

Ira Rubinstein, the associate general counsel for regulatory affairs and public policy for Microsoft Corp., who spoke on the same panel as Varney at the Identity Mashup conference, disagreed with her. "The laws are beginning to impose very significant costs in terms of fines and corporate reputation."