Feeds

Mandatory data breach laws back on Australian agenda

Financial System Inquiry report wants 'em to stop banks hiding boo-boos

Mobile application security vulnerability report

Australia's on-again, off-again debate about data breach notification laws is on again, courtesy of a report into financial system regulation, at least until the government cans the idea (again).

Register readers will recall that a Privacy Alerts bill was proposed by the previous government before the 2013 election, then delayed, re-introduced in March, and abandoned in June by the current government.

Now, the federal government's Financial System Inquiry has issued an interim report (PDF) that recommends the government re-examine the issue.

As the report states “Access to growing amounts of customer information and new ways of using it have the potential to improve efficiency and competition, and present opportunities to empower consumers. However, evidence indicates these trends heighten privacy and data security risks”.

To cover these risks, the report unequivocally backs “mandatory data breach notifications to affected individuals and the Australian Government agency with relevant responsibility under privacy laws”.

At the same time, the report seems to take issue with current attitudes to cloud computing – particularly in relation to offshore storage of Australian data. The Australian Prudential Regulatory Authority, it says, should be advised of “continuing industry support for a principles-based approach to setting cloud computing requirements”, and the government should review record keeping rules that currently inhibit “cross-border information flows”.

Digital identities are also highlighted in the report, with the government urged to pursue “a national strategy for promoting trusted digital identities”.

The FSI is seeking comment on the interim report until 26 August 2014, and has until November 2014 to issue its final report. ®

Bridging the IT gap between rising business demands and ageing tools

More from The Register

next story
Just TWO climate committee MPs contradict IPCC: The two with SCIENCE degrees
'Greenhouse effect is real, but as for the rest of it ...'
Adam Afriyie MP: Smart meters are NOT so smart
Mega-costly gas 'n' 'leccy totting-up tech not worth it - Tory MP
'Blow it up': Plods pop round for chat with Commonwealth Games tweeter
You'd better not be talking about the council's housing plans
Arrr: Freetard-bothering Digital Economy Act tied up, thrown in the hold
Ministry of Fun confirms: Yes, we're busy doing nothing
ONE EMAIL costs mining company $300 MEEELION
Environmental activist walks free after hoax sent share price over a cliff
Help yourself to anyone's photos FOR FREE, suggests UK.gov
Copyright law reforms will keep m'learned friends busy
Apple smacked with privacy sueball over Location Services
Class action launched on behalf of 100 million iPhone owners
UK government officially adopts Open Document Format
Microsoft insurgency fails, earns snarky remark from UK digital services head
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.