Data breaches have far-reaching implications including reputational damage, loss of consumer trust and financial costs, reports Computerworld Australia. Though companies are not required to report data breaches, Australian companies Telstra and Dell Australia have been investigated for data breaches by Privacy Commissioner Timothy Pilgrim in the past two years and found to be violating multiple National Privacy Principles. Beyond the effect on companies themselves, data breaches can have vast consequences for customers. “The implications for customers are that if their personal data is lost, someone else may try to create a false identity using their name,” said one expert.
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