Australia Passes Bill to Fine Companies up to $50 Million for Data Breaches,
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,
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,
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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,
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,
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https://thehackernews.com/2022/11/australia-passes-bill-to-fine-companies.html