Data Breach Reporting Laws Hit Australia with Serious Implications for Businesses

Mandatory Data Breach Notification Laws will kick in on 22 February, but businesses remain unprepared. How is yours tracking?February 22 marks the date Australia finally rolls out its long-awaited data breach notification laws. After years of back-and-forth, handballed from minister to minister, Australia has reached a point of maturity when it comes to lawfully disclosing serious breaches of personal and business data. The news is likely to be music to the ears of consumers, who have been left in the dark by businesses sweeping breaches of sensitive information under the carpet. Under the new laws, all organisations covered by the Australian Privacy Act will be accountable to the Notifiable Data Breaches (NDB) scheme. If an unauthorised person or entity accesses personal information, where it is likely to cause serious harm to that individual, the data breach will have to be reported to the Office of the Australian Information Commissioner (OAIC), as well as the individuals affected. But, in 2018, it’s shocking to hear reports that Australian businesses still feel unprepared for the rollout of these laws. Businesses will soon be responsible for instant reporting of compromised data, incurring fines of up to AU$360,000 for individuals and AU$1.8 million for...
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