A data breach occurs when personal information is subject to unauthorised access or disclosure or if information is lost in circumstances where unauthorised access or disclosure is likely. A breach must be notified to the Office of the Australian Privacy Commissioner (OAIC) and all affected individuals when one or more individuals are likely to suffer serious harm as a result of the breach.
Byline: Julia Cameron
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- Many Australian businesses must disclose when they have been affected by a data breach
- While reputational damage is a critical risk for businesses, there is also the threat of monetary penalties of up to $2.1 million and orders of uncapped compensation
- A representative complaint – similar to a class action – has been made against Optus on behalf of a group of individuals affected by an alleged breach in 2019.
Landlords, take advantage of COVID-19 insolvency legislative reform: now is the time to register security interests in cash security deposits on the PPSR
- Landlords should register security interests on the PPSR in cash security deposits or cash bonds paid under a commercial or retail leases