Post Syndicated from Bruce Schneier original https://www.schneier.com/blog/archives/2022/10/australia-increases-fines-for-massive-data-breaches.html

After suffering two large, and embarrassing, data breaches in recent weeks, the Australian government increased the fine for serious data breaches from $2.2 million to a minimum of $50 million. (That’s $50 million AUD, or $32 million USD.)

This is a welcome change. The problem is one of incentives, and Australia has now increased the incentive for companies to secure the personal data or their users and customers.