Australia to Introduce Tougher Penalties for Data Breaches
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The Australian government will next week introduce legislation to significantly increase penalties for privacy breaches after the huge hack at mobile-phone operator Optus.
The legislation will boost the maximum penalty for serious or repeated privacy breaches to A$50 million ($32 million); three times the value of any benefit obtained through the misuse of information; or 30% of a company’s adjusted turnover in the relevant period, whichever is greater. The current level is a A$2.22 million penalty.