Protecting your digital assets – your electronic and online accounts and data – has never been more important.
In 2023 Australia, our digital security laws are about to be reformed following multiple major Australian data breaches.
Over a six-month period in late 2022, Australia suffered multiple major data breaches that each affected 1 million or more people, according to the latest statistics by the Office of the Australian Information Commissioner (OAIC). The report states that five breaches affected more than 1 million individuals.
In total, there were 497 notifiable data breaches reported between July and December 2022, a 26 percent increase on the first half of the year.
The report noted that 350 breaches were the result of “malicious or criminal attacks”, a rise of 41 percent over the previous half; while human error breaches fell five percent to 123 notifications.
Three of the breaches are well-known: Optus (more than 2 million individuals), Woolworths MyDeal (2.2 million), and Medibank (9.7 million).
Since then, it has come to light that millions of customers of leading Australian electronics store The Good Guys have had their personal data accessed when a third-party supplier was hacked.
Names, addresses, phone numbers and email addresses of 1.5 million “Concierge” members who were part of The Good Guys rewards system were accessed, the company said.
In about 15,000 cases, customers who provided their date of birth had the information hacked and the passwords of 325,000 customers who had created a My Rewards account as Concierge members were also stolen.
As all of us live more and more of our lives online, it has become essential that we take seriously the need to protect ourselves and our data.
On 16 February 2023, the federal Attorney-General launched his Department’s Report on its review of Australia’s key privacy legislation, the Privacy Act, including proposals for 116 changes.
The overarching theme of the proposals is to increase the protections for personal information collected about individuals. The final form in which the proposals will be implemented, and whether they will be implemented, is yet to be seen.
Protecting your digital assets has become critically important. As part of this process, it’s a very good idea to look at putting all your affairs in order and explore your estate planning options, by contacting a specialist lawyer who is experienced in estate planning in South Australia.
Founded in 1848, Genders & Partners is the oldest law firm in South Australia. They choose to specialise in just a few areas of law closest to most families, so that they can provide the legal services that matter most to you and your family.
Their experienced estate planning team can discuss many estate planning tools and techniques including:
- helping you to identify, understand and manage risks in your legal and financial affairs;
- protect your digital assets;
- creation of protective trusts;
- titling of assets for joint ownership;
- consideration of insurance options.
Choosing the right estate planning lawyers can make a huge difference in ensuring proper distribution of your assets after death, minimising or avoiding any legal issues that may arise, and protecting your hard-earned assets.
Most importantly, it helps save your family all the trouble, as well as thousands of dollars in legal fees and taxes, after your death.
Download their free eBook: “7 things you must know before you make your Will” here.
Genders and Partners is the oldest law firm in South Australia, established 1848. Contact them to learn how to protect yourself, your family and your assets through modern integrated estate planning solutions, by visiting our website today and schedule a free no obligation telephone consultation to find out how they can help you and yours.
To learn how to protect yourself, your family and your assets, by creating a professionally-made estate plan, claim your FREE 15 minute Telephone Consultation .
PS For a strictly limited time Genders and Partners are giving away for FREE their Digital Assets Protection Pack with the purchase of any Gold Estate Planner package. Find out how to Protect Your Digital Assets here.
Protecting Your Digital Assets
What will happen to your online accounts, profiles, data, subscriptions and memberships, if you die or become incapacitated?
With data breaches, elder abuse and digitalisation all on the increase, read these important insights from senior Australian specialist lawyer Rod Genders to help protect yourself, your family and your assets.