Who does the new Data Notification Law affect?
Australia’s Data Notification Law goes into effect February 22, 2018. It will apply to businesses governed under the Privacy Act 1988 – including any with annual turnovers of $3 million, or businesses that collect and store sensitive user information like payment or personal data. If a data breach will likely result in “serious harm” to individuals, whether reputation, finances, or even safety, you’ll be required to notify the relevant parties. Remind your board that failure to do so can be costly, earning fines of up to $1.8 million!