The Australian Banking Association claimed potential reforms to the Privacy Act could have unintended consequences, such as "consent fatigue," the Australian Financial Review reports. The ABA warned customers could be "bombarded with messages from lenders seeking permissions for … basic payments," while hampering the ability to innovate new products and address fraud. The potential reforms "include tougher rules on consent and retaining personal information, and a right for people to request data held by a business to be erased." The ABA claimed the reforms would make it more difficult to protect, "detect and eliminate cyber threats."
Full Story