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New privacy laws come into effect in Australia today as the Australian Privacy Principles replace the current National Privacy Principles and Information Privacy Principles, Smart Company reports. Under the new rules, businesses generating more than $3 million a year in revenue may be fined up to $1.7 million for mining Big Data or sharing or storing information without consent, the report states. One expert said the new laws are going to make it more difficult for companies to build profiles of their customers.
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