The number of data breaches reported by Australian companies could almost double next year under new privacy rules that start in February.
An ASIC report on the cyber resilience of over 100 firms operating across Australia’s financial markets has shown a growing understanding of cyber risks, but there is still some progress to be made.
Report 555 Cyber resilience of firms in Australia’s financial markets collates and analyses the results of self-assessments from over 100 stockbrokers, investment banks, market operators, post-trade infrastructure providers and credit rating agencies.
From 22 February 2018, the Privacy Act 1988 (Cth) will include a mandatory data breach notification scheme. This means you will have to alert authorities and all affected individuals about any ‘eligible data breach’ which takes place in your company.
The Interactive Advertising Bureau (IAB) is the peak trade association for online advertising in Australia.
Cyber security will likely trigger corporate Australia’s next big black swan event according to outgoing ASIC chairman, Greg Medcraft.