Sourcing Monthly February 2014 - March 2014
Security continued to be a major concern during March, with particular focus on new privacy regulations (Privacy Amendment Act) that came into effect on March 12th. A lot of interest was generated because of the extensive measures and associated fines for breaching the new Australian Privacy Principles (APPs). The APPs focuses on protection of sensitive information and integrates information security policies which are already in place. Of most interest were the significant changes, the fact that many companies were not sufficiently prepared and the high fines for breaching the APPs. It displays an increased concern and focus on establishing security solutions and a requirement to engage external providers to assist with response measures as well as illustrating the need for strong government regulations to prevent misuse, loss or inappropriate access to sensitive data, facilitate breach detection and to establish responses for security breaches.