As businesses collect and store more data, they must adopt stronger identity security measures to protect sensitive information, and human and non-human identities. With stricter regulations and hefty penalties on the horizon, companies will need to rethink how they manage data access and ensure robust security frameworks are in place to prevent breaches and safeguard consumer privacy. This reform underscores the need for proactive measures in managing and securing access for all identities within the organisation, to prevent cyber threats.
 
Commentary:
 
When it comes to changes in legislation, especially concerning security, privacy or identity, the key questions to ask are, why and why now?
 
The answer to that is simple. More businesses are developing into modern organisations with rapid digital adoption, bringing with it unprecedented risks and challenges. As our digital landscape expands, so does the threat surface for cyber attackers. More data, more technology and more access points mean more opportunities for breaches.
 
What the reforms to Australia’s Privacy Act are telling businesses is that it’s time to get smarter about protecting their digital assets and data. These changes don’t just require businesses to understand their vulnerabilities—it means enforcing stricter penalties and fines for failing to safeguard sensitive information. The return on investment in cybersecurity just got a lot more real.
 
At the heart of these reforms is the critical issue of identity security. With the rapid growth of digital operations, both human and non-human identities (like bots and service accounts) are the gateways to sensitive personal information. Moreover, organisations will also have to manage an explosive growth of up to 10% more identities over the next 3 years.
 
The other big question here is: how well are organisations protecting the private data of Australian consumers? Alarmingly, many still lack sufficient safeguards around these access points, leaving them wide open to exploitation by threat actors.
 
Reports from the OAIC show that the majority of data breaches are due to compromised credentials—digital keys that unlock vast amounts of private information. And it’s not just people accessing this data. Non-human identities are increasingly part of the equation, raising questions about how we monitor and govern these additional access points.
 
The need for strong and comprehensive identity security measures is no longer optional. Organisations must be proactive and advanced in securing all identities—human and machine—or risk falling behind in the ever-evolving digital age. This is the wake-up call for businesses to prioritise identity security and take control of their cybersecurity posture before it’s too late.