Australia Proposes Hefty Fines for Companies Failing to Protect User Data
The Australian Computer Society (ACS) has proposed significant financial penalties for companies mishandling users' personal data. The society sees this review as an opportunity to modernise Australia's technology legislation framework, aiming to protect all Australians and foster global competition. ACS, representing over 35,000 Australian workers, welcomes the government's call for reform following the Optus data breach.
ACS proposes high, prohibitive financial penalties for companies failing to protect user data. These penalties would be commensurate with the size of the breach, with social media platforms potentially facing fines up to 49.5 million Australian dollars. The Chair of the ACS Cyber Security Committee, Louay Ghashash, suggests enforcing security best practices with substantial penalties for non-compliance.
Ghashash proposes establishing a minimum standard for data security, covering various threats and malicious acts, including internal staff behaviour. He also suggests rethinking legislative data collection requirements and storage methods to reduce future data breach risks. ACS is keen to work with key ministers in the cybersecurity, technology, and telecommunications space to develop a suitable legal framework. The society aims to implement these standards through a consultative approach, considering the burden on smaller companies.
ACS's proposals aim to strengthen Australia's data protection laws, with substantial penalties for non-compliance. By establishing minimum security standards and reviewing data collection methods, ACS seeks to reduce data breach risks and protect all Australians. The society is eager to collaborate with ministers to develop a suitable legal framework, ensuring a balance between protection and burden on businesses.
