Asia Pacific – Cyber Law Watch

Anticipated Tightened Data Privacy Regulations: Raid on Worldcoin

Feb 26 2024

In late January 2024, Hong Kong’s privacy watchdog, the Personal Data Privacy Commission (“PCPD”) raided six premises of Worldcoin, a cryptocurrency initiative co-founded by Sam Altman, that requires an iris scan from clients for identification purposes and also for earning tokens. The PCPD conducted an investigation into Worldcoin’s operations, suspecting that its sensitive personal data (i.e. iris information) collection practices might infringe the Personal Data Privacy Ordinance (Cap. 486).

Australia’s Privacy Framework set to be Revamped Following the Government’s Response to the Privacy Act Review Report

Oct 13 2023

By: Cameron Abbott, Rob Pulham, Stephanie Mayhew,and Maddy Bassal

Last week the federal Government released its response (the Response) to the recommendations proposed by the AGD’s Privacy Act Review Report released in February 2023 (the Report).

Study reveals massive cost of cybercrime for Asia Pacific businesses

Jun 01 2018

By Cameron Abbott and Sarah Goegan

We all know that cybersecurity incidents can cost your organisation a lot of money, but exactly how much? A report by Frost and Sullivan has found that losses from cyberattacks in the Asia Pacific region (APAC) could reach a staggering US$1.75 trillion, nearly 7 per cent of the region’s gross domestic product in 2017. As covered in our blog last week, the cost of cyber scams alone in Australia totalled $340 million AUD last year.

Update everything: Discovery of Wi-Fi flaw in connected devices

Oct 19 2017

By Cameron Abbott, Rob Pulham and Olivia Coburn

A Belgian researcher has discovered a weakness in WPA-2, the security protocol used in the majority of routers and devices including computers, mobile phones and connected household appliances, to secure internet and wireless network connections.

The researcher, Mathy Vanhoef, has named the flaw KRACK, for Key Reinstallation Attack.

Any device that supports Wi-Fi is likely to be affected by KRACK, albeit devices will have different levels of vulnerability depending on their operating systems. Linux and Android are believed to be more susceptible than Windows and iOS, and devices running Android 6.0 are reportedly particularly vulnerable.

Gartner: Worldwide spending on information security to reach $93 billion in 2018

Aug 24 2017

By Cameron Abbott and Olivia Coburn

Global spending on information security products and services will reach $86.4 billion this year, according to US-based technology research and advisory firm Gartner, Inc.

This figure is an increase of 7 per cent over 2016, and is expected to grow to $93 billion in 2018.

Together we are stronger – Australia and Singapore partner up on cybersecurity

Jun 06 2017

By Cameron Abbott and Allison Wallace

A freshly inked Memorandum of Understanding between Australia and Singapore will see the two countries strengthen their cybersecurity through a joint effort to build a secure and resilient cyber space.

The two-year partnership which was signed last week, will see Singapore’s Cyber Security Agency work with the Australian government to conduct regular information exchanges on cyber threats, share best practices to promote innovation in cyber security, and build cyber security capabilities. Read More

Australian Cyber Security Centre (ACSC) 2015 Threat Report

Jul 31 2015

By Cameron Abbott and Melanie Long

On 29 July 2015, ACSC released its first unclassified ‘Threat Report’ (Report). The Report highlights the increasing number, type and sophistication of cyber security threats in Australia, and is a timely reminder to organisations to re-assess the level of their cyber security.

The key takeaway messages from the Report include:

even organisations that may not think that they hold valuable information, or that they would be of interest to cyber adversaries, could be a target for malicious cyber activities
ensuring a resilient, cyber-secure Australia requires coordination between government and the private sector, with organisations and their users taking greater responsibility for the security of their networks and information.

ASIC Releases Updated Guidance on Electronic Disclosure

Jul 28 2015

by Jim Bulling and Julia Baldi

ASIC has released updated guidance on electronic disclosure. RG 221:Facilitating online financial services disclosures. It outlines ASIC’s expectations for financial services providers that use (or plan to use) technology, including email and the internet, to deliver financial product and financial services disclosures to clients.

See RG 221 here.

Australian Prudential Regulation Authority (APRA) paper

Jul 06 2015

by Jim Bulling and Julia Baldi

APRA has released an information paper on outsourcing involving shared computing services, including cloud. The paper discusses risks for outsourcing shared services and ways in which APRA regulated entities may seek to minimise these risks.

See the information paper here.

Breaches Update – June 2015

Jun 20 2015

by Jim Bulling and Julia Baldi

U.S. Office of Personal Management Breach
The U.S.Government’s Office of Personal Management announced that its database has been subject to a cybersecurity breach. Hackers stole data relating to federal government employees dating back three decades and may effect more than four million people.

See the ABC report here and Forbes report here.

The OPM is offering affected individuals credit monitoring services and identity theft insurance. See the OPM announcement here.

Tag:Asia Pacific