New Laws on Privacy and Cyber Threats
New Laws came into effect in Feb 2018 for Mandatory Data Breach Reporting under the “Notifiable Date Breach scheme”. These laws will impact many organisations, imposing an obligation to notify the Privacy Commissioner and affected Individuals of these breaches. If they fail to protect their customers information correctly, the company will be exposed to large fines and penalties.
The Office of Australian Information Commissioner has developed a Date Breach Information Guide. This will provide guidance for business on how to prepare and implement Policy and Response plans.
All organisations and businesses should have their policies and plans in place now. In addition to the fines, data breaches will also impact on their company/organisation’s reputation and brand, both short and long term. More information is available through the link below: