Wednesday, March 12, 2014

Ongoing Audits Increase AU Privacy Breach Costs

Australia's Privacy Principle Act (APP) amendments became law today (03/12/2014) with fines of up to $1.7 million for companies and $340,000 for individuals who breach the Act.

But ongoing audits could push the total cost of data breaches much higher, according to Baker & McKenzie partner Patrick Fair. Fair noted this is because "companies have so many points of collection and multiple layered data bases with different information stored in different places." To help organizations keep abreast of the Act, Fair suggests appointing a privacy officer.

"There has to be [a privacy officer] in the organisation who understands the [APPs] and is prepared to broker them into the business." - Patrick Fair, Baker & McKenzie
However, there are ways to minimize costs of ongoing audits for privacy breaches, even if data is in disparate systems and locations worldwide. Low-cost on-demand SaaS analytics services proactively identify unauthorized breaches of data privacy, even by authorized users - with no hardware and no on-site software.
Download a white paper on data privacy breach detection. Learn how to proactively identify unauthorized breaches of data privacy, even by authorized users - with no hardware and no on-site software.
Sources:
(a) Cost of a Privacy Act breach could extend to ongoing audits: legal expert - www.TechWorld.com, 03/11/2014

No comments:

Popular Posts

Copyright © 2010-2011 by Veriphyr Incorporated, All Rights Reserved.

Contact us at Veriphyr.com.