Australian companies not happy with the reforms to the privacy laws
Most of the largest companies of Australia have expressed their fears of a big rise in compliance costs because of the reforms to the privacy laws of the country. As per the reports, the companies including Westpac, National Australia Bank, Telstra and Coles Supermarkets have said the proposals must be softened to ease the pressure of costs.
A Senate committee has been appointed to examine the draft laws which would be inserted in to the privacy principles as the Australian Law Reform Commission made 295 recommendations for change in 2008.
If the new proposals sign in to law the Australian companies would not be able to exchange their personal information with the overseas companies as the law prevents the companies from offshore privacy breaches. In a letter to the committee Telstra has said under the new law it would not be able to exchange personal information with its overseas offices.
Telstra has criticized the new proposals very much and also appealed for a change in it. The Coles Supermarkets also expressed its concerns over this law as it needs to exchange information of its customer via internet.
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