Telcos face fines over cyber security

June 26, 2015Telecommunications companies face fines of up to $250,000 if they do not take proper steps to head off cyber attacks that have the potential to cripple government agencies and damage businesses.

Attorney-General George Brandis said the laws, which were now out for consultation and will go to the parliament later this year, will ensure the safety of stored and transmitted data for business, individuals and the public sector.

The government estimates the changes will cost the industry about $220,000 a year.

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