Are you ready for the Privacy Act changes?

The impending amendments to the Australian Privacy Act will impact how organisations manage personal data, with significant consequences for non-compliance. Even small and medium-sized businesses will face new tiered penalties, in addition to existing fines of over $50 million for serious or repeated breaches.

Recent high-profile incidents like the Optus and Medibank data breaches underscore the severity of these risks. In both cases, not only did the companies face multi-million dollar financial repercussions, but the damage to their brands was even greater – with Medibank accused of breaching the privacy of 9.7 million Australians.

The OAIC reported a 9% rise in data breach notifications in the first half of this year alone. As the likelihood of attacks continues to grow, organisations across the most vulnerable sectors—health services, government, finance, education, and retail—must act now to strengthen their data protection measures.

Our whitepaper, Are you ready for the Privacy Act changes?, outlines the critical steps businesses need to take in preparation for the changes, offering clear guidance on:

• Stricter data protection laws: Learn about the more stringent regulations governing the handling of personal data.
• Enhanced consumer rights: Understand how consumers will gain greater control over their personal data, including easier access, corrections, and the right to request deletion.
• Mandatory data retention periods: Get up to speed on the new maximum and minimum retention periods for personal information under Privacy Principle 11.
• Increased penalties for non-compliance: Avoid costly fines, which will soar into the millions for organisations that fail to meet the new requirements.
• Immediate action steps: Discover Iron Mountain’s proven information transformation model – from Discover to Maintain – designed to help you navigate the changes.
• Operational benefits of compliance: Explore how meeting privacy requirements not only mitigates risk but can also unlock operational efficiencies and new revenue streams.