The Australian government on Saturday proposed tougher penalties for companies that fail to protect customers’ personal data after two major cybersecurity breaches left millions vulnerable to criminals.
The penalties for serious breaches on the Privacy Act would increase from $2.2 million (US$1.4 million) now to $50 million (US$32 million) under amendments to be introduced to Parliament next week, Attorney-General Mark Dreyfus said on Saturday in Melbourne.
