The Hacker News - Australia Passes Bill to Fine Companies up to $50 Million for Data Breaches

The Australian government has passed a bill that markedly increases the penalty for companies suffering from serious or repeated data breaches. To that end, the maximum fines have been bumped up from the current AU$2.22 million to AU$50 million, 30% of an entity's adjusted turnover in the relevant period, or three times the value of any benefit obtained through the misuse of information,

from The Hacker News https://thehackernews.com/2022/11/australia-passes-bill-to-fine-companies.html

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