Australia mulls increase in penalties for major data breaches

Australia is mulling the introduction of new laws that would increase penalties on companies to more than 50 million Australian ($31.6 million) – up from the current AUD2.2 million – for serious or repeated privacy breaches, Reuters reported. This comes after recent major data breaches at Australia’s second-largest telecommunications firm Singtel Optus Pty Ltd. and health insurer Medibank Private, which covers one-sixth of Australians.