CYBER Attack and Privacy Breach – Still think it doesn’t affect you?

2 min read

Last month we published the first in a series of articles focussed on cyber attacks, privacy breaches, the possible impact on organisations and what you can do to protect yourself.

There has been significant public and media attention as a result of recent high profile data breaches such as those impacting LinkedIn, Adobe, Optus, Kmart, Yahoo and Ashley Madison. These are large organisations which can lead to the belief amongst SME’s that are simply ‘aren’t a target ‘. However, the facts show that no organisation is too small to be targeted, with 60% of all attacks aimed at SME’s. In fact many attacks are automated to capture anyone they can.

Last month we outlined some steps to mitigate the risks of an attack. Despite taking these steps, as evidenced by recent attacks on large organisations, a cyber breach is still a significant exposure to any organisation, large or small. We would strongly encourage business owners to take up a Cyber Liability Policy which is an extremely cost effective method of transferring the risk to an insurer and having immediate access to professional support following a breach.

There are three really good reasons to both mitigate the risks and insure against them. Firstly, to ensure you are protected against the direct and third-party costs of and breach. Secondly to have immediate access to professional breach support via your insurer. Thirdly, the ‘Privacy Amendment (Notifiable Data Breaches) Bill 2016’ was passed in the Australian Parliament on the 13th of February 2017. The bill amends the ‘Privacy Act 1988’ to introduce a mandatory data breach notification regime. The notification regime is a significant change to the data breach notification obligations of organisations holding personal information. The bill is likely to commence 12 months after it receives Royal Assent, which is expected soon.

This is no longer an emerging risk for organisations; it is real and significant both in terms of reputation, costs and legislative requirements. Next month we will detail the extent of insurance cover available along with some real life examples of SME breaches. We will follow this with an article on the Privacy Amendment Bill and how it impacts organisations.

In the interim if you want to find out more, contact Nathan Corrigan at Insurance House, (02) 8913 9137 or nathan.corrigan@ihgroup.com.au.

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Authored By
PBLTeam

Director Lawyer, PBL Law Group

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Anita Bradley has been an absolute dream to deal with. Anita's conveyancing skills and knowledge knows absolutely no boundaries along with her effective communication skills which has made selling and buying a completely stress free exchange for us. We recommend PBL Law to everyone looking for outstanding service. We will definitely be returning clients.
Kushlan Aluwihare
PBL Law Group were fantastic. Anita from PBL worked with us closely during our property search and made the exchange and settlement process smooth and stress free. Highly recommended.
Gail Whitford
PBL handled my late mothers estate, they were very obliging and patient with any and all questions that we had, thank you to David , Sharon and the other staff that we dealt with, everyone was so easy to talk to and friendly .David came to the home where my Mother was living and helped her to get her will in order, Sharon helped us through the process of executing her wishes when the time came even doing a house call which was so much easier, thank you all so much
S M
I have experienced an excellent service from PBL (especially from Anita) during the sale of my recent property on Central Coast, and during the purchase of our current property in Sydney. Throughout many challengers, especially with the sale, Anita presented her very professional and knowledgeable conveyancer, positively solving all obstacles. "Above and Beyond" Award going to Anita!!! :-)
Amanda Reitzin
The five-star reviews are well-deserved. I needed a motion and a bylaw drawn up for urgent repairs of my strata unit and the AGM was in two weeks' time. My solicitor was friendly, efficient, knew what documents to ask for, and had all the paperwork prepared well within the timeframe. She also took the time to run through all the legalese and the different possible scenarios with me to make sure I understood. I am so glad to have found this firm and I will not hesitate to use their services again in future if the need arises.
Ricky Cooper
Anita is amazing! So attentive, approachable and communicates everything every step of the way. I have now bought and sold property with Anita and I cannot recommend her highly enough.
Ron Thomsen
Our Commercial Property conveyancing was handled very professionally. Anita’s experience and responsiveness was an asset in this transaction.
Trace M
I am so grateful for Anita Bradley from PBL Law Group helped me with this property settlement, she has went above beyond to ensure I understand everything because of our deafness. I will recommended Anita or their team. Thank you so much for all the hard work you have done for us.
Tricia Wheatstone
For almost 18 months I have been a client of Alex Ilkin. Alex is very knowledgeable and professional and has consistently provided me with thorough, honest and well set out advice, including steering my case through appeal proceedings. He always worked for my best interests with integrity and compassion. I recommend Alex and his team at PBL.