Australia approves Privacy Legislation Amendment

January 19, 2023 | 5 minute read
Rogier Roelvink
Insight Program Director
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Significant privacy breaches in recent months have shown existing safeguards are outdated and inadequate.

Australia’s new reforms make clear to companies that the penalty for a major data breach can no longer be regarded as the cost of doing business. Companies must be better prepared to prevent breaches from happening in the first place.

Higher penalties and new powers are imminent and will come into effect the day after the legislation is approved. In this post we’ll explore the amendment and how Oracle’s Smart Construction Platform helps businesses stay vigilant and mitigate the risk of security breaches and any penalties that would come alongside such a breach.

What is the Privacy Legislation Amendment?

The Privacy Legislation Amendment (Enforcement and Other Measures) Bill 2022 increases the maximum penalties for serious or repeated privacy breaches from the current $2.22 million penalty to whichever is the greater of:

  • $50 million;
  • Three times the value of any benefit obtained through the misuse of information; or
  • 30% of a company's adjusted turnover in the relevant period.

The bill also provides the Australian Information Commissioner with greater powers to resolve privacy breaches and quickly share information about data breaches to help protect customers.

The problem

The construction and engineering sector is undergoing unprecedented digitalisation, from platforms through to highly specialised applications. More connected technology also increases the risks of cyber security breaches. Recently well publicised data breaches of Optus and Medibank, as well as the privacy aspect of this bill, has put increased focus on privacy i.e., not just business data, but also private and personal information.

Construction and engineering organisations may be under the impression that such security breaches and the legislation’s impact may be less of a risk to them. However, consider the amount of private and personnel data you hold in addition to potentially highly sensitive information you produce. For example, firms may hold defence projects, custodial and law enforcement facilities, security systems, access control layouts, back-up generator locations—the list goes on. Security of your data and information has far reaching impacts especially when compromised.

Homegrown ecosystems created by organisations are often a collection of point solutions with integrations and connections that use methods inherently out of date, due to continuous technological advancement.

Australia data breach

The threat

Cyber-attacks are not always crime motivated as highly publicised instances often portray. The notion that your threat is based on your organisation’s size, public profile, or perceived wealth can be misguided, and assuming your company is at low risk as a result of those factors is risky.

Australia data breach

As you win projects, your exposure profile changes, not only in terms of publicity or perceived success, but potentially also as a target for cyber criminals. Projects can put you on the radar of individuals or organisations with bad intentions as a potential point of access to their intended target for exploitation. Cybersecurity and project risk analysis, before and during project execution, should therefore always be under review and reconsideration.

Oracle Construction and Engineering

The market is awash with technology vendors of all shapes and sizes. It is therefore imperative to become familiar with the security protocols, approach, and continued investment of all your technology vendors. All too often you may find yourself in a situation where your application vendor uses a third-party cloud provider. This means that your security is dependent on a party you have no direct contractual arrangement with.

Your responsibility varies greatly depending on the service, technology, application, and deployment method. Oracle’s second-generation cloud is frequently and consistently lauded as one of the most advanced and secure cloud environments. Oracle construction and engineering applications run on Oracle Cloud Infrastructure, providing you with the best possible protection.

Australia data breach

Smart Construction Platform

Oracle’s Smart Construction Platform is built on interconnected, trusted applications that provide all the necessary core capabilities for owners and delivery teams to collaborate and manage projects and assets through their lifecycles.

The depth and breadth of data from these apps is accessible through a common data environment and combined with AI/ML/analytics to support more informed, proactive decisions and continuous improvement.

Based on Oracle technologies and cloud infrastructure to ensure scalability, security, and compliance, the Oracle Smart Construction Platform is uniquely built to drive continuous improvement, enhancing the way you build and manage projects with some of the industries’ highest security standards – your cybersecurity is our highest priority.

For more information about Oracle Cloud and Oracle Construction and Engineering, please reach out to your sales representative or click here.

The Oracle Smart Construction Platform combines our industry-trusted applications with a common data environment and an ecosystem of partners to help owners and delivery teams work together and continuously improve performance. The platform connects teams and data, synchronizes work, and empowers individuals to make informed, proactive decisions. Power performance with proven Oracle Construction and Engineering solutions for scheduling, portfolio management, construction project management, project controls, construction payment management, and more.

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Rogier Roelvink

Insight Program Director

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