The “Privacy Legislation Amendment Bill 2022,” which changes the Privacy Act 1988, has received final approval from the Australian Parliament. Information on the Privacy Act of 1988 can be found here.
On October 26, 2022, a new legislation — the Privacy Legislation Amendment (Enforcement and Other Measures) Bill 2022— was introduced into the Australian Federal Parliament. On November 28, 2022, both Houses of Parliament passed the bill.
“We need better laws to regulate how companies manage the huge amount of data they collect, and bigger penalties to incentivise better behaviour.” said Australia’s attorney-general, Mark Dreyfus.
This action comes after a recent wave of data breaches.
“Unfortunately, significant privacy breaches in recent weeks have shown existing safeguards are inadequate. It’s not enough for a penalty for a major data breach to be seen as the cost of doing business,”
The new legislation will dramatically enhance Australia’s online privacy laws.
🚀 Quick facts:
- In addition to asking for information and documents, the Office of the Australian Information Commissioner has the authority to issue infringement notices to individuals who don’t comply.
- The maximum penalty for violations of the Australian Privacy Act is now:
- AUD 50 million;
- three times the benefit the firm received from the violation; or
- thirty percent (30%) of the company’s adjusted turnover (if the value of the benefit cannot be derived).
What do I need to do?
Companies that previously did not fall under the Act or its cross-border reach should consider whether they now need to enhance their compliance status.
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