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Under the long-anticipated Notifiable Data Breaches Bill, any organisation that is accountable to the Privacy Act will be required to inform the Australian Information Commissioner and members of the public if their data has been compromised.

Changes to the legislation come as TAFE Queensland rolls out a training program to assist business deal with cyber security developments.

Between $420k and $2.1 million – the new cost of silence under new cyber security legislation
 

THE SHORT STORY

Malicious cyber activity is growing worldwide, driving a dramatic increase in demand for cyber security solutions, particularly in the Indo-Pacific region.

Under new Australian legislation – the Notifiable Data Breaches Bill – which passed the Senate on 13 February 2017 — silence for any data breaches will now cost some small business $420k and Corporations up to $2.1million.

Over the next decade the Australian cyber security industry is forecast to almost triple in size.

Australia has a shortage of cyber security workers. Businesses worldwide need to ask themselves if they have the expertise and skills available to defend against this wave of data breaches, and the possible reputational and financial fallouts that occur.

TAFE Queensland is planning to offer skills-based cyber security certificate and diploma level qualifications.

THE LONGER READ (ARM YOURSELF WITH A COFFEE)

Under the long-anticipated Notifiable Data Breaches Bill, any organisation that is accountable to the Privacy Act will be required to inform the Australian Information Commissioner and members of the public if their data has been compromised. Read more on the Office of the Australian Information Commissioner’s website.

Changes to the legislation come as TAFE Queensland rolls out a training program to assist business deal with cyber security developments.

TAFE Queensland Interim Chief Executive Officer Mary Campbell said she was thrilled with the opportunity to provide this much needed training and is looking forward to working alongside industry partners who can offer internship opportunities and real-world experience for students.

“Malicious cyber activity is driving a rapidly expanding global cyber security industry as governments, the private sector and research community boost spending and investment to defend online operations,” Mrs Campbell said.

“As a result, the demand for Australian cyber security solutions is expected to increase dramatically in coming years as cyber criminals become more astute at stealing and manipulating information and systems online and we will need a skilled workforce to tackle the challenges,” she said.

Malicious cyber activity is growing worldwide, driving a dramatic increase in demand for cyber security solutions, particularly in the Indo-Pacific region.

AustCyber CEO Craig Davies said that over the next decade the Australian cyber security industry is forecast to almost triple in size, with revenue soaring to at least A$6 billion by 2026 from just over A$2 billion today.

“An appropriately skilled and educated cyber security workforce is critical to Australia's ability to capitalise on this growth opportunity at the same time as improving Australia’s cyber resilience,” Mr Davies said.

“Australia’s Cyber Security Sector Competitiveness Plan, released by AustCyber last year, conservatively estimates that Australian employers will need at least 11,000 additional cyber security workers over the next decade - and this only covers a set of technical roles.

“There is a critical shortage of skilled cyber security workers in Australia, needed to help secure organisations against malicious cyber activity, so it is extremely encouraging to see Australian TAFEs join forces to do what TAFEs do best - provide practical hands-on skills aligned with industry needs,” he said.

The practical, ‘hands-on-keyboard’ certificate and diplomas courses offered by TAFE Queensland will open pathways to learners seeking further education and potentially a new career meeting the security challenges faced by employers.

The courses were designed by TAFE in New South Wales in close collaboration with industry partners to help address the shortage of cyber security professionals needed to secure Australian organisations. These include the National Australia Bank, Commonwealth Bank of Australia, ANZ Bank, NBN Co, Cisco Australia and New Zealand, REA Group, BAE Systems, Telstra, Deloitte, CITT, the Australian Information Security Association and ISACA.


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