The financial penalty introduced by the new bill is set to whichever is greater: Previously, the penalty for severe data exposures was AU$2.22 million, considered wholly inadequate to incentivize companies to improve their data security mechanisms. The new bill comes in response to a series of recent cyberattacks against Australian companies, including ransomware and network
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Latitude Financial is forecasting a first-half statutory loss of between $95 million and $105 million after a cyber attack “closed or severely restricted” its ability to earn income for five weeks. The anticipated financial hit from the cyber attack and ensuing large-scale data breach, which occurred back in mid-March, covers its inability to collect payments or
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Hackers claim to have stolen personal data from Pizza Hut customers in a cyberattack they say also netted them information on 30 million orders for Margheritas, Hawaiians and Meat Lover’s products. The number of Australians who had personal information taken is substantially smaller than the order information claimed: the hacker’s unverified claim was of obtaining
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