Small businesses with under AUD 3 million annual turnover have been exempt from Australia's Privacy Act terms to date, but that has been taken off the table in a new round of reforms that could become law in 2024.
Privacy act draft proposes a maximum penalty of the greater of $50 million, three times the value of any benefit obtained through the misuse of information stolen in data breaches, or 30% of the company's annual domestic turnover.
A new consumer privacy act has been signed into law in Utah and takes effect as 2023 ends, the fourth state bill of this nature to be passed. It is the most business-friendly of the bunch.
While proposed Exposure Notification Privacy Act could control the potential misuse of contact tracing apps and exposure notification apps, it could also put the brakes on the scope of data collected.
