this post was submitted on 22 Nov 2023
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Labor to reconsider mandatory data retention laws for companies in light of major hacks (www.theguardian.com)
submitted 1 year ago by [email protected] to c/[email protected]
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New cyber security strategy cites business concerns at having to store large amounts of data for excessive periods of time, increasing breach risk

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[–] [email protected] 2 points 1 year ago

This is the best summary I could come up with:

“Technological advancements have enabled malicious actors to develop vast data profiles on businesses, individuals and officials for intelligence gathering and commercial purposes.”

The strategy points out that businesses have voiced concerns that they are required to store substantial amounts of data for excessive periods of time, making them potentially high-value targets for hacking.

This was something raised in the wake of the Optus and Medibank data breaches, where tens of millions of customer records dating back years were exposed, with some then ending up on the dark web.

Alistair MacGibbon, senior strategy officer at CyberCX, told Guardian Australia a good rule of thumb was that businesses cannot lose or misuse data they do not keep in the first place.

“We need corporations and government to have that view, but that doesn’t mean no information should be collected or retained, including for law enforcement purposes.

MacGibbon said there was a tendency for businesses to misinterpret their collection obligations, and that there was value in reviewing the existing laws to see if they were still fit for purpose.

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