Gilbert + Tobin's Fai explained that if an organisation is found to have hidden an eligible data breach, or is otherwise found to have failed to report an eligible data breach, such failure will be considered an interference with the privacy of an individual affected by the eligible data ...
Punitive Damages –In cases of fraud or gross negligence, courts may impose additional penalties. Professional Disqualification –Fiduciaries may face suspension or revocation of their professional licenses. Legal consequences depend on the severity of the breach, financial impact, and intent of the fiduc...
severe for organizations in highly regulated fields like healthcare, finance and the public sector, where steep fines and penalties can compound the costs. For example, according to the IBM report, the average healthcare data breach costs USD 9.77 million, twice the average cost of all breaches...
With a data breach, information can be copied or transmitted without damaging the source. A breach can also result in the loss of access to data due to theft orransomware. In some cases, data can simply be destroyed in an act of vengeance or an attempt to cause catastrophic disruption. Wh...
Monetary penalties and investigation for non-compliance A failure to comply with the notification requirements is subject to the penalty regime under thePrivacy Act, which allows for monetary penalties of up to $1.8 million for organisations and $360,000 for individuals for serious or repeated breac...
India Proposes Digital Data Rules with Tough Penalties and Cybersecurity Requirements Jan 06, 2025Regulatory Compliance / Data Privacy The Indian government has published a draft version of the Digital Personal Data Protection (DPDP) Rules for public consultation. "Data fiduciaries must provide clear...