Five practical things you need to know about Mandatory Data Breach Reporting

After 10 years and numerous Federal Governments Australia has finally caught up with the rest of the world in terms of mandatory data breach notification (the US first introduced mandatory data breach reporting over 15 years ago). To mark the commencement of the laws which kicked off on 23 February 2018, we take a look at five things you need to know about the regime (one for every two years since the Australian Law Reform Commission first recommended the idea back in 2008!)

1. IT DOES NOT APPLY TO ALL KINDS OF DATA, ONLY PERSONAL INFORMATION
   
   The mandatory data breach laws come within the framework of Australia's Federal Privacy Act, which regulates the collection, handling and disclosure of personal information such as names, addresses, phone numbers and personal financial details including bank account and credit card details. The rules do not apply to unauthorised access to or disclosure of sensitive business information including financial data, unless it also