The Director’s Guide to Cyber Breach Legislation is now available as a free download.
An Excerpt:
“What if tomorrow was your unlucky day and it started with a $1.8 million financial penalty? Imagine if the bottom line of your organisation was reduced by $1.8 million. Now that might not sound like a lot but think about what $1.8 million could represent. It could fund at least ten high profile employees. It might allow you to market the launch of a new product or service. It might be the budget for a project that could move your company to new heights that your competitors simply can’t match. We know you can use your imagination here to think about what $1.8 million could buy.”
“More important than what is why. Why did we ask you this question? Come February 2018, the newly amended privacy act within Australia will come into action with fines to your organisation of up to $1.8 million for failure to disclose a data breach. As we said before, that may not represent a lot of money for an organisation with hundreds of millions of dollars or more in market capitalisation. After all, this may just mean an extra hour or two in generating sales or having each employee work a little longer or a little harder to make up for the loss, but it is just the start of what could be a downward spiral when your organisation faces its next data breach.”