Asic Alleges Over 2.9 Million Dollar Overcharge In Interest By Commonwealth Bank Australia

Asic Alleges Over 2.9 Million Dollar Overcharge In Interest By Commonwealth Bank Australia

The latest Notifiable Data Breaches Report (see link below) conducted by the Office of Australian Information Commissioner (OAIC) has found that there has been a 5% increase on the previous six months of data breaches. This means there has been 539 data breach notifications from July to December of 2020. This report has found that data breaches as a result of human error on the rise (OAIC, 2021).

In response to this high volume of data breaches being reported, Commissioner Falk urges any organisations that handle personal information to have systems in place for responding to data breaches. As a result of this report, Commissioner Falk has made it clear that organisations have a responsibility to be prepared to provide their clients with information and recommendation quickly and effectively in the event of a data breach (OAIC, 2021).

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