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Asia Pacific Dashboard Digest | Financial sector under scrutiny for data breach prevalence Related reading: Singapore's PDPC announces latest enforcement actions

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Information obtained under Freedom of Information laws shows that between January 2012 and April 2018, the four largest banks disclosed 32 data breaches, 7.30 reports. Of the four, Westpac reported 18, NAB reported nine, Commonwealth Bank reported three, and ANZ reported two. Up until Australia’s new data breach notification laws took effect in March 2018, it was voluntary for banks to report privacy breaches to the Office of the Australian Information Commissioner. The OAIC's first quarterly report following the implementation of the new regulations showed the banking and financial sector had the third largest disclosure of data breaches at 13 percent of all reported breaches.
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