Australia Proposes Stringent Penalties for Failure to Protect Customer Privacy After Cybersecurity Breaches

Australia Proposes Stringent Penalties for Failure to Protect Customer Privacy After Cybersecurity Breaches

Australia on Saturday proposed tougher penalties for companies that fail to protect customers’ personal data after two major cybersecurity breaches left millions vulnerable to criminals. The penalties for serious breaches of the Privacy Act would increase from AUD 2.2 million (roughly Rs. 11 crore) now to AUD 50 million (roughly…