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

Australia has proposed tougher penalties for corporates that do not preserve the privacy of their customers. The country's decision comes weeks after two major cybersecurity incidents affected millions of citizens, and penalties for series breaches of the Privacy Act could increase from AUD 2.2 million (roughly Rs. 11 crore) to AUD 50 million (roughly Rs. 264 crore). ...

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