Summary
The Australian government has passed a bill that markedly increases the penalty for companies suffering from serious or repeated data breaches. To that end, the maximum fines have been bumped up from the current AU$2.22 million to AU$50 million, 30% of an entity’s adjusted turnover in the relevant period, or three times the value of
The Australian government has passed a bill that markedly increases the penalty for companies suffering from serious or repeated data breaches.
To that end, the maximum fines have been bumped up from the current AU$2.22 million to AU$50 million, 30% of an entity’s adjusted turnover in the relevant period, or three times the value of any benefit obtained through the misuse of information,