Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 12 SEPTEMBER 2019

Data breach report shows human error a key risk factor as breach costs predicted to rise to $5 trillion by 2024

Holding Redlich
Holding Redlich
Contributor
Holding Redlich

Holding Redlich

Holding Redlich is a large national commercial firm with offices in Melbourne, Canberra, Sydney,...

View firm profile
Explore more from Holding Redlich

Upskilling a workforce in privacy awareness and basic security may be the best defence against a potential data breach.

AustraliaPrivacy
Georgia Milne
Georgia Milne
Author LinkedIn connections

On 27 August 2019, the Office of the Australian Information Commissioner (OAIC) released its latest quarterly report into the Notifiable Data Breaches (NDB) regime with national figures confirming that one in three breaches last quarter were caused by compromised credentials (passwords).

The Report comes as new research suggests the annual cost of worldwide data breaches will exceed $5 trillion by 2024 1. The whitepaper, released by UK research body Juniper Research, suggests the increase will "primarily be driven by increasing fines for data breaches as regulation tightens", with the majority of breaches expected to target small to medium sized enterprises who lack the financial capacity to adequately invest in cyber protection.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Privacy Reform In Australia: What Businesses Need To Know In 2026-2027 (Part 2)

The Australian Government has released the Exposure Draft Privacy Amendment (Personal Data Protection) Bill 2026, proposing the most significant overhaul of privacy law in years. These reforms would fundamentally change how Australian businesses handle personal information, introducing a new "fair and reasonable" test, stronger consent requirements, expanded definitions of personal information, and new rules for AI and emerging technologies.
AustraliaPrivacy
Coleman Greig Lawyers
Coleman Greig Lawyers
Article

Australia’s Privacy Act Reforms: Fundamental Changes Proposed In New Exposure Draft

Australia's Privacy Act reform has reached a critical milestone with the release of exposure draft legislation proposing fundamental changes to how organisations handle personal information. The reforms introduce a new 'fair and reasonable' test for data collection and use, a right of erasure for large digital platforms, strengthened consent standards, a statutory controller/processor framework, restrictions on trading personal data, and enhanced data breach obligations. These changes come at a time when em
AustraliaPrivacy
Corrs Chambers Westgarth
Corrs Chambers Westgarth
Article

Digital Duty Of Care: What Australian Businesses Need To Know

The Australian Government's proposed digital duty of care reforms would extend online safety obligations far beyond social media platforms to encompass any business operating websites, digital platforms, or AI-enabled tools. Rather than simply responding to complaints, businesses would need to proactively identify foreseeable risks and implement safeguards, with substantial penalties for non-compliance reaching up to $109.2 million for companies. The exposure draft introduces a fundamental shift from reacti
AustraliaPrivacy
Holding Redlich
Holding Redlich
Article

Privacy Reform In Australia: What Businesses Need To Know In 2026-2027

Australia's privacy laws are undergoing significant reform, with new automated decision-making transparency requirements commencing in December 2026 and further substantial changes under consideration. Businesses must prepare for enhanced regulatory scrutiny, increased litigation risk through the new statutory tort for serious privacy invasions, and potential expansion of obligations to small businesses and employee records.
AustraliaPrivacy
Coleman Greig Lawyers
Coleman Greig Lawyers
Article

AI Glasses And Privacy: Are Our Laws Keeping Up?

Australia's new statutory tort for serious invasions of privacy, which commenced in June 2025, is being tested against emerging AI-powered smart glasses technology that can record audio and video discreetly. As these devices become more sophisticated and less detectable, questions arise about whether current privacy laws adequately protect individuals from covert surveillance and data collection in both public and private settings.
AustraliaPrivacy
Carroll & O'Dea
Carroll & O'Dea
Article

Update On Status Of Key Tax Measures Announced In Budget 2026-27

Australia's 2026-27 Budget introduces sweeping changes to capital gains tax, negative gearing, and discretionary trust taxation, fundamentally reshaping decades of established tax policy. The Treasury Laws Amendment (Tax Reform No. 1) Act 2026 has now received Royal Assent, but significant controversy surrounds key provisions including the new 30% minimum tax on discretionary trusts and restrictions on corporate beneficiaries. How will these reforms affect existing trust structures, investment strategies, a
AustraliaTax
Holding Redlich
Holding Redlich
Article

Digital Duty Of Care: What Australian Businesses Need To Know

The Australian Government's proposed digital duty of care reforms would extend online safety obligations far beyond social media platforms to encompass any business operating websites, digital platforms, or AI-enabled tools. Rather than simply responding to complaints, businesses would need to proactively identify foreseeable risks and implement safeguards, with substantial penalties for non-compliance reaching up to $109.2 million for companies. The exposure draft introduces a fundamental shift from reacti
AustraliaPrivacy
Holding Redlich
Holding Redlich
Article

Fair Work Commission Releases New AI Guidance And Warns Against Blind Reliance On AI

The Fair Work Commission has introduced new guidance requiring parties to disclose their use of generative AI in proceedings, following a 70% surge in workload attributed to AI-generated applications. A recent case demonstrates the consequences of blind reliance on AI tools, with one applicant ordered to pay costs after continuing a jurisdictionally flawed claim despite repeated warnings from the Commission.
AustraliaEmployment and HR
Holding Redlich
Holding Redlich
Article

Victoria’s New Data Centre Rules – Implications For Developers And Operators

Victoria's new Sustainable Data Centre Action Plan introduces comprehensive planning, renewable energy, and community benefit requirements for data centre developments. The regulations establish location restrictions, noise limits, renewable energy mandates, and water supply requirements while creating new referral authorities to oversee compliance. These changes will significantly impact how developers and operators plan and execute data centre projects in Victoria's rapidly expanding market.
AustraliaMedia, Telecoms, IT, Entertainment
Holding Redlich
Holding Redlich
Article

Federal Budget 2026-27: Three Tax Changes Reshaping Investment, Trust Structures And Business Planning

Australia's 2026-27 Federal Budget introduces sweeping tax reforms that fundamentally reshape investment planning, trust structures, and business operations. The replacement of the 50% CGT discount with indexed gains and a 30% minimum tax, restrictions on negative gearing to new builds only, and a 30% minimum tax on discretionary trusts create unprecedented challenges for property investors, professional services firms, and family businesses. Understanding how these three interconnected measures work togeth
AustraliaTax
Holding Redlich
Holding Redlich
Article

Yindjibarndi And WA Government To Appeal $150 Million Federal Court Native Title Compensation Decision

The State of Western Australia and the Yindjibarndi Ngurra Aboriginal Corporation have both filed appeals against a landmark Federal Court decision awarding $150 million in compensation for cultural loss caused by mining operations in the Pilbara region. This unprecedented case marks the first judicial determination of native title compensation for future acts and the largest cultural loss award in Australian history, establishing critical precedents for how compensation is assessed when native title rights
AustraliaGovernment, Public Sector
Holding Redlich
Holding Redlich
Article

Project Distress In Queensland: Lessons From The Bathla Collapse

The collapse of the Bathla Group has sent ripples through Australia's construction sector, raising critical questions about financial distress management in major projects. With Queensland delivering an unprecedented infrastructure pipeline amid margin pressures and market uncertainty, are project participants adequately prepared to identify and respond to insolvency warning signs before external administrators arrive?
AustraliaReal Estate and Construction
Holding Redlich
Holding Redlich