Data breach

The financial regulator has received 36 data breach notifications since APRA’s new prudential standard for cybersecurity, known as CPS 234, came into effect in July this year.  Sign up for Which-50’s Irregular Insights newsletter Most of the breaches were “relatively minor” and none threatened the “viability” of APRA regulated entities.

The cost of data breaches will rise from $3 trillion each year to over $5 trillion in 2024, an average annual growth of 11 per cent, according to a new report from Juniper Research. This will primarily be driven by increasing fines for data breaches as regulation tightens, as well

The size and cost of data breaches in Australia are increasing and organisations are getting worse at dealing with them, according to new research from IBM and the Ponemon Institute. The amount of incidents are likely increasing too, although it is hard to confirm because up until last year, most

The National Australia Bank spent the weekend contacting customers about a data breach which exposed the personal information of 13,000 customers. The bank uploaded the personal information of some its new customers to insecure servers of two third party providers without authorisation. Sign up for Which-50’s Irregular Insights newsletter The

While it often seems that companies skate through major breaches of consumer trust with little more than a short-term blip to cash flow or market capitalisation, the evidence suggests that the negative impacts may be more long-lasting and serious. And not just to the executives who lose their jobs —

The number of data breaches reported in Australia has risen 712 per cent since the introduction of the privacy watchdog’s mandatory reporting scheme. The scheme, introduced one year ago, requires Australian entities with an annual turnover of $3 million or more, with few exceptions, to report any data breaches likely

Facebook Here Together Campaign

Facebook has again exposed its users’ data, according to security researchers which say they found 540 million users’ details including passwords available on public storage servers. Facebook is yet to respond to the claims. Security firm UpGuard claims two third-party developed Facebook apps collected and posted the information on publicly

Australians are increasingly opting out of data sharing with small and medium businesses over privacy concerns, according to research from HP. The reluctance comes as SMBs report data is now “critical” to their success. Sign up for Which-50’s Irregular Insights newsletter Consumer caution may be well warranted with the study

Tightening regulations around privacy and data breach disclosure appear to be working. Global analysis of publicly disclosed data breaches shows that in the first half of 2018 the amount of breaches disclosed grew 133 per cent on the same time last year. Sign up for Which-50’s Irregular Insights newsletter In

Google chose not to disclose a data breach that exposed the private data of hundreds of thousands of Google+ users over fears of regulator scrutiny and comparisons to the Cambridge Analytica Facebook scandal, according to the Wall Street Journal. Which-50 can reveal the breach has drawn the attention of Australia’s privacy