Australia’s Medibank confirms not just some, but all company data breached

Following a denial last week, health insurer Medibank admits 200 gigabytes of company data on close to 4 million of their customers was illicitly accessed. This after perpetrators threatened the company it would target its most prominent customers – and revealed data set samples to prove this was possible. This is a big concern for multiple reasons: the company concealed the breach; the attackers can potentially use the data that, in addition to personal identifiers, includes information on diagnosis’ and procedure recommendations; and Medibank was not insured against cybercrime, so its cost to address this will run in the tens of millions of dollars.

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Turkey is the most recent country to ding Meta – this time for antitrust breach

November 1, 2022

As fines for Meta go, Turkey is well behind the EU and UK numbers, coming in at only $18.6 million, compared with $267 million and $70 million respectively. But, Turkey’s judgement that Meta obstructs its competitors by combining data from separate services it operates, threatens the core of its ad business, which is predicated on collecting and compiling data for profiles from its multiple services and being able to micro target using that information.

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IT’S THE LAW (11/01/2022)

November 1, 2022

Australia, which suffered several high-volume, high-profile data breaches in recent weeks – including Medibank’s this week – is about to make significant legislative changes including huge hikes in penalties for breaches. The plan to be presented to parliament this week is to increase the maximum for serious or repeated breaches from the current AUS $2.22 million to AUS $50 million; or the greater of 3x the value of any benefit, or 30% of a company’s adjusted turnover in the relevant period.

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