U.S. Congress May Require ISPs to Block Fraud Sites
Declan McCullagh writes on C|Net News:
For the last decade or so, Internet service providers have been dealing with requests to block access to pornographic or copyright-infringing Web sites, or in China, ones that dare to criticize the government.More here.
Now a U.S. House of Representatives bill is taking the unusual step of requiring Internet providers to block access to online financial scams that fraudulently invoke the Securities Investor Protection Corporation--or face fines and federal court injunctions.
The House Financial Services Committee approved the legislation on Wednesday by a 41 to 28 vote.
If you've never heard of the SIPC, you're not alone. It's a government-linked entity that aids investors when funds are missing from their accounts, up to a limit of $500,000 for stocks, bonds, and mutual funds. Only investor accounts that investors have opened with members of the SIPC qualify for its protection.