The OAIC engages in more in-depth investigations and stronger exercise of its power
By Cameron Abbott, Rob Pulham and Jacqueline Patishman
Following two key data incidents concerning how the Commonwealth Bank of Australia (CBA) handled data, the OAIC has successfully taken court action binding the banking heavyweight to “substantially improve its privacy practices”.
As a quick summary of the incidents, the first incident involved the loss of magnetic storage tapes (which are used to print account statements). These contained historical customer data including customer statements of up to 20 million bank customers. In 2016, the CBA was unable to confirm that the two magnetic tapes were securely disposed of after the scheduled destruction by a supplier.
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