Privacy and cyber security are a key issue in Parliament…
Cyber attacks across the globe are increasing at an alarming rate and no organisation is immune. Since 2013, over 7 billion data records have been lost or stolen and only 4% were encrypted. In Australia, on average, a cyber attack costs an organisation $5.4 million1 per incident. However this cost increases significantly when factoring in flow-on effects such as business disruption, information loss or theft, revenue loss, or the impact on brand and reputation or regulatory sanction.
According to the recent ASX 100 Cyber Health Check Report, while only 8% of directors say they have a clear understanding of the key controls in the company’s cyber resilience framework, a further 64% have a reasonable understanding. There are opportunities for further improvement. Is Victorian government similar?
1 – 2016 Cost of Cyber Crime Study & the Risk of Business Innovation
In this event, the Victorian Commissioner of Data Privacy and Data Protection David Watts will provide insights around the role of the board in protecting and strengthening their business. David is also Adjunct Professor of Law at LaTrobe University, Task Force leader on Big Data and Open Data for the UN Special Rapporteur on the Right to Privacy, a member of the Privacy Advisory Group to UN Global Pulse and a Key Researcher at the Data to Decisions Cooperative Research Centre. His background is as a private and public sector lawyer.
The Office of the Commissioner for Privacy and Data Protection was established by the Privacy and Data Protection Act 2014 (Vic) in September 2014. The Act is designed to protect all information held by the Victorian public sector, including the personal information of individuals. The Office of the Commissioner for Privacy and Data Protection’s mission is to safeguard Victorians’ information and support information innovation.
Key areas to be addressed:
- The rising threat landscape and what it means for Victoria
- The ASX Cyber Health Check Report – implications and actions in Victorian government
- The Australian Privacy Act of 1988 and Notifiable Data Breaches scheme, understanding obligations and compliance
- The role of Victorian governing boards in addressing cyber security and privacy
- Integrating appropriate governance and risk measures into the public sector organisation for resilience
- Amendment of Victorian Privacy and Data Protection Act 2014 – what does it mean?
- And your questions!