This infographic explains the implications of Australia’s mandatory Notifiable Data Breaches scheme for organizations that collect and store sensitive personal information. It highlights the financial and reputational consequences of breaches, noting a 27.7% chance that a typical company could experience one within two years and an average breach cost of $3.62 million. Consumer trust is also at risk, with 76% saying they would leave a company that suffered too many incidents. Under the scheme, eligible breaches must be reported within 30 days of discovery. Failure to comply may result in penalties of up to $1.8 million. The infographic emphasizes preparation, timely reporting, strong data protection, and clear incident-response procedures as essential requirements for reducing regulatory a

Join for free to read