Overhaul of the Privacy laws: what will it mean for you?
Conclusion: Privacy is now a public issue. Consequently, many of the recommendations for the Australian Privacy Act will likely be accepted because they reflect good practice, and are in harmony with international data privacy trends. However, these amendments to the Privacy Act will introduce added complexity and expense to the management of personal data.
The danger right now is that organisations may try to dodge the cost of compliance by doing as little preparation as possible. Widespread, legally mandated, disclosures of data breaches would wreak havoc with consumer confidence in online transactions. Australian organisations, both large and small, cannot afford that loss of faith.
About The Advisor
James Turner is an IBRS emeritus Advisor who specialised in cyber security and risk and facilitates the CIO Cyber and Risk Network on behalf of IBRS. James has over a decade of experience as an industry analyst and advisor; researching the cyber security industry in Australia. As an IBRS Advisor, James authored over 100 IBRS Advisory papers, led dozens of executive roundtables, and presented at numerous conferences.