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According to Australian Government’s Cyber Security Review, cybercrime is costing the Australian economy around $1 billion annually in direct costs alone.  Some analysts say that data breaches could cost Australian businesses about $8 trillion over the next five years, largely because of higher levels of connectivity without a proportionate level of investment in security. The ATO or Australian Taxation Office works with the Attorney-General’s Department, the Department of Human Services, the Australian Competition & Consumer Commission (ACCC),  the Australian Securities & Investments Commission (ASIC) as well as other government regulatory agencies & departments for combating the growing threat of identity theft as well as cybercrime. A few months back, the government implemented the NDBs or Notifiable Data Breach Scheme, administered by the Office of the Australian Information Commissioner. This scheme applies to all agencies & organizations respon...

Facebook has recently started the process of alerting around 87 million users whose data was accessed by the election consultancy Cambridge Analytica. The social media platform eventually hopes to notify each and every user who was affected with a warning at the top of their news feed. For now, users can check by going to a new help page on the website or searching “How can I tell if my info was shared with Cambridge Analytica?” in Facebook’s help centre. Users will be able to see a message saying that “neither you nor your friends logged into ‘This Is Your Digital Life , the personality quiz that Cambridge Analytica used for gathering its data. Approximately 87 million users, including more than 1 million users in the UK, will be getting a different response saying “a friend of yours did log in”. This means that their profile, birthday, current city as well as page likes were likely shared with the company, & possibly their news feed content at the time. Approximate...