Losses of up to $88K under new data breach rules
Accountants have been urged to give “top priority” to the impending data breach laws, with one cyber security expert warning of significant ramifications such as client loss of confidence, compounding monetary loss.
The Notifiable Data Breaches scheme will commence on 22 February 2018, requiring all businesses with an annual turnover of $3 million or higher to notify individuals and the Office of the Australian Information Commissioner (OAIC) when cyber security incidents compromise personal information.
Read the full article on Accountants Daily.
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