Data is more valuable than oil, as data is the lifeblood of any business. Data by itself like oil, needs to be refined before it is transformed into a valuable commodity.
Data Breach Laws – Australia
What is the impact for Business?
Data is collected everyday as part of normal business activities, assisting businesses to make important business decisions such as marketing and forecasting. Today’s greatest challenges though are hackers – cyber criminals who are focused on and love to get their hands on a business’s sensitive and valuable business data, a prime target being customer information.
In 2018, the Australian Government introduced new laws to protect consumers against data breaches. Essentially, any company with a turnover exceeding $3 million must alert its customers of a data breach as quickly as possible. Failing to report the breach, an organisation can be fined up to $1.8 million.
According to the Office of the Information Commissioner data breaches in Australia are still rising meaning many companies remain unprepared. The July-December 2019 Notifiable data breaches report reported that Malicious or criminal attacks (including Cyber incidents) account for 64% of all notifications, human error remains the second biggest cause at 32% of all reported breaches.
Malicious or criminal attack
So, what can you do to recover in the event of a data breach?
More importantly, what can you do to prevent falling victim to hackers?
Preventing and Recovering from Data Breaches
If you suspect somebody has accessed your data without authorisation, you should comply with government guidelines and notify the authorities immediately. Report a data breach here.
The last thing you need is a financial penalty that could put your business under. That’s why it’s best to maximise your IT security so that hackers can’t penetrate your system. Here are some tips:
If you lose your data, you’ll need to get it back – quickly. That’s why you should always securely back up your data to the cloud, where you can easily recover it.
Create a cybersecurity framework
Recent surveys suggest that the majority of Australian business owners plan to implement a cybersecurity framework within the next 12 months. But with data breaches on the rise, you might want to consider moving the task towards the top of your to-do list. There are plenty of ways in which you can secure your network and ensure only people with authorisation can access sensitive data. If you’re unsure of what’s available, give us a call. We’ll detail the types of systems trusted by global corporations and even governments.
Make sure remote workers follow protocols
It’s highly likely that, increasingly, you’ll have employees working from home, which isn’t necessarily a bad thing for plenty of reasons. Nevertheless, remote working does increase the risk of a data breach, so make sure you have rules in place for your at-home employees. You need to tell people to stick to using your corporate network for work tasks and to avoid transmitting work files using personal email addresses.
Your local Computer Troubleshooters expert understands that both hacking and the recent changes to data breach laws can wreak havoc on your business, which is why we only install the most advanced cybersecurity solutions on the market and use leading suppliers products.
If you have any questions about data breach laws, the effect they can have on your business or the innovative solutions available to prevent hacking, don’t hesitateto talk to us on 08 8387 3889 or email email@example.com we are here to support you!