There’s been a number of serious data breaches against Australian companies in recent months. Most notably was telco company, Optus, health insurance provider, MediBank, online shopping, MyDeal, and wine dealer, vinomofo. As a result the government is introducing a bill to amend the Australian privacy rules to include new fines and additional powers for the information commissioner. The maximum fine will increase from $2.2 million to the greater of, $50 million, 3 times the value of any benefit obtained through the misuse of information; or 30% of a company’s adjusted turnover in the relevant period.
https://www.itnews.com.au/news/gov-proposes-up-to-50m-fines-for-serious-data-breaches-586802
This segment was created for the It’s 5:05 podcast