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AAP
AAP
Politics
Andrew Brown and Paul Osborne

Data breach penalty laws pass lower house

Medibank Mark Dreyfus Reece Kershaw Simon Bush Optus
Medibank is refusing to pay a ransom after hackers threatened to release stolen client data. (Lukas Coch/AAP PHOTOS) (AAP)

Increased fines for companies that have serious data breaches are one step closer, after new laws passed the lower house.

The bill will hike up fines for breaches from $2.2 million to either $50 million, 30 per cent of a company's turnover during the affected period, or three times the value of any benefit gained through the information misuse.

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