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New Zealand should consider privacy law updates, penalty changes, watchdog says

( May 8, 2023, 01:56 GMT | Official Statement) -- MLex Summary: Financial-services company Latitude Financial's recent cyber attack should prompt policymakers in New Zealand to consider strengthening national privacy law, including penalties, the country's privacy regulator has said. New Zealand Privacy Commissioner Michael Webster said moves by other regulators overseas to strengthen privacy protections should encourage policymakers to consider measures such as a right to erasure and how to regulate Artificial Intelligence. Webster noted that major breaches in Australia in late 2022 prompted the government to fast-track planned privacy-penalty increases, but New Zealand has no civil penalty system for privacy breaches, despite a low-level criminal offense of $NZ10,000. The Latitude Financial data breach has affected around 20 percent of New Zealand's population, making it the country's largest-ever data breach.The full statement from New Zealand’s Office of the Privacy Commissioner follows:...

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