The Australian government’s national cybersecurity adviser has urged social media companies to improve the way they treat personal data and encouraged users of those platforms to be more aware of what information they are offering up to the Internet. Amid the heightened debate around the use of personal data online, Alastair MacGibbon, who heads the Australian Cyber Security Centre, also suggested ... Read More »
Late-payers to be banned from UK government contracts following Carillion collapse Outsourcing giants that fail to pay suppliers on time will be banned from major contracts under new plans announced by the government today in the wake of Carillion’s collapse. The Cabinet Office has announced a package of measures which also aim to “level the playing field” so small businesses ... Read More »
Speaking in London recently, Information Commissioner Elizabeth Denham said that she is in discussions with the government to secure a stronger audit power in the UK Data Protection Bill than currently planned. Speaking about the Facebook / Cambridge Analytica investigation, Denham said: “Under the GDPR I will have the power to audit all those who hold, use and share personal ... Read More »
The Notifiable Data Breaches (NDB) scheme comes into effect today, requiring agencies and organisations in Australia that are covered by the Privacy Act to notify individuals whose personal information is involved in a data breach that is likely to result in “serious harm”, as soon as practicable after becoming aware of a breach. Launching the new legislative direction on Thursday, ... Read More »
UK Regulatory Headlines this month: Data protection standards to be maintained post-Brexit ICO publishes introduction to Data Protection Bill ICO confirms consent needed for electronic marketing Affiliate Marketers under scrutiny ICO releases ‘Making data protection your business’ guidance DP Bill amendments on data processing for safeguarding purposes New UK data protection registration fee Article 29 Working Party GDPR guidance WhatsApp ... Read More »
The European Commission has set out details of a 23-step ‘Fintech Action Plan’ to promote the digital transformation of the financial services sector, including the establishment of an EU Fintech Laboratory, the creation of a best-practices blueprint for regulatory sandboxes and substantial crowdfunding reforms. The Commission has spent the past year gathering views on how best to harness the opportunities ... Read More »
Executives from Apple and IBM have called for more oversight on how personal data is used following the Facebook breach that saw roughly 50 million users’ data misused by consultancy Cambridge Analytica. Speaking at the three-day China Development Forum in Beijing, Apple chief Tim Cook said “well-crafted” regulation was required, while IBM chief Virginia Rometty said users should have more ... Read More »
A recent study showed that over 60 percent of corporate data is stored on employee endpoints. And yet, as companies work to ensure compliance with the new General Data Protection Regulation (GDPR), they still may be overlooking a few key areas. The GDPR globally impacts the processing of all personal data on EU residents and takes effect on May 25, 2018. The ... Read More »
India’s capital market regulator Sebi will meet credit rating agencies to explore ways to have quicker access to information on loan defaults by corporates. With the Reserve Bank of India (RBI) having so far refused to share the sensitive information beyond the banking industry, Sebi is keen that all rating agencies take membership of credit information companies (CICs) to obtain ... Read More »
Cyber security is now high on the agenda of businesses as they are locked in an arms race to stay ahead, or even catch up, to highly sophisticated cyber criminals. The comment was made at the 2018 World Economic Forum Annual Meeting in Davos. It was also stated that the aggregate economic cost of cyber security is now estimated over ... Read More »
Speaking at the Direct Marketing Association’s (DMA) conference on 23 February, Information Commissioner, Elizabeth Denham, said that whilst the details of the new EU e-privacy regulation are still being debated, the current draft proposes opt-in as a default for all consumer marketing. “Until the e-privacy regulation comes into force, the Privacy and Electronic Communications Regulations (PECR) will sit alongside the ... Read More »
In January 2017 Russia Has Joined the Multilateral Competent Authority Agreement on the Automatic Exchange of Country-by-Country Tax Reporting https://www.biia.com/transparency-russia-has-joined-the-multilateral-competent-authority-agreement-on-automatic-exchange-of-country-by-country-tax-reporting. This required the amendment of respective local laws, in particularly law No.340-FZ which was adopted 27.11.2017. Chapter 14.4-1 was added to the Tax Code of the Russian Federation “Submission of documentation for multinational groups of companies”: Definitions of multinational group ... Read More »
The Australian government is forcing big banks to join the comprehensive reporting regime and credit bureaus have been collecting more information since the new credit reporting regime started in March 2014. Before the change, credit reports, which credit bureaus provide to lenders when they check on applicants, only held negative information such as missed payments of more than 60 days, ... Read More »
The SEC closes the stable door after the horse has bolted. The U.S. Securities and Exchange Commission on Wednesday updated guidance to public companies on how and when they should disclose cyber security risks and breaches, including potential weaknesses that have not yet been targeted by hackers. The guidance also said company executives must not trade in a firm’s securities ... Read More »
Under half of businesses are aware of forthcoming data protection laws they’ll be subject to in just four months’ time – or what the new legislation means for how information security is handled. A lack of awareness about the forthcoming introduction of General Data Protection Regulation (GDPR), a new set of rules from the European Union which aims to simplify data protection laws and ... Read More »
BIIA.com | Business Information Industry Association