01 May Privacy Awareness Week 2024

Power Up Your Privacy

The privacy and technology landscape is changing – now is a critical time for organisations to get privacy right.

CRM Brokers is proud to support Privacy Awareness Week (6 to 12 May 2024), an annual campaign led in Australia by the Office of the Australian Information Commissioner (OAIC) that highlights the importance of protecting personal information.

This year’s theme focuses on privacy and technology and the key principles of transparency, accountability and security – but what do these principles mean in practice?

Here are some of the key points from the Office of the Australian Information Commissioner:

Transparency: The best privacy practice starts with transparency. If your business is collecting personal information from people, you must be open and transparent about how you will handle it.

Accountability: Privacy is a human right and it’s one Australians value highly. Maintaining strong privacy practices should be a foundation of your business.

Security: Power up the security of personal information in your organisation by using the right tools and guarding against known and emerging threats.

Privacy tips for your business or organisation

• Is your organisation holding information it doesn’t need? Map the information life cycle, and ensure appropriate review, retention and destruction schedules are in place.
• Apply privacy by design: privacy impact assessments will help you adopt a privacy by design approach, including when looking at new technologies.
• Access to customer accounts through credential stuffing, and compromised staff access, are key issues to look out for. Strengthen identity management and authentication steps.
• If you suspect a data breach, be flexible and adaptive. Take required steps simultaneously or in quick succession, where possible.
• Assume human error will occur and design for it. And choose wisely when outsourcing the handling of personal information to service providers.

Visit the Privacy Awareness Week website to find out more, including how your organisation can also become a PAW supporter: www.paw.gov.au

Don’t Be Caught Off Guard

A major cyber-attack or data breach can be disruptive and expensive. Cyber insurance is there to help your business bounce back and rebuild, should the worst occur.  Cyber insurance is not the first line of defence; it is designed to protect a business when it’s IT security, policies and procedures fail to stop an attack. Don’t wait until it’s too late – click here to obtain a Cyber Insurance quote online.

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IMPORTANT NOTICE

This article provides information rather than financial product or other advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information. In particular, you should review the product disclosure statement for any product that the information relates to it before acquiring the product. Various insurers issue cyber insurance. Cover can differ between insurers.

Information is current as at the date the article is written as specified within it but is subject to change. CRM Brokers make no representation as to the accuracy or completeness of the information. Various third parties have contributed to the production of this content. All information is subject to copyright and may not be reproduced without the prior written consent.