Maureen Gabriel

Federal Court rules against Bit Trade for DDO breach Nearly a year after ASIC initiated legal action, the Federal Court has ruled against Bit Trade Pty Ltd, operator of Kraken #crypto exchange in Australia, for failing to meet design and distribution obligations for a margin trading product. ASIC’s allegations included that the product was a ‘financial product’ and was offered without a required ‘target market determination.’ This case underscores ASIC’s vigilance in protecting consumers and ensuring compliance in the crypto market. We outline the full context and implications of this decision for the industry. https://lnkd.in/gmkWhM46 Thomas Webster Hall & Wilcox Blockchain Australia #cryptocurrency #digitalassets

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The ACMA has requested Australian internet service providers block more websites after investigations found the services to be operating in breach of the Interactive Gambling Act 2001. Website blocking is one of a range of enforcement options to protect Australians against illegal online gambling. This action can be taken if a service is: • providing prohibited interactive gambling services to customers in Australia (such as online casinos, online slot machines and services that allow in-play online sports betting) • providing an unlicensed regulated interactive gambling service to customers in Australia (such as online betting services that don’t have a valid Australian licence) • publishing ads for prohibited interactive gambling services or unlicensed regulated interactive gambling services in Australia. Since the ACMA made its first blocking request, 1,011 illegal gambling and affiliate websites have been blocked. Over 220 illegal services have also pulled out of the Australian market since the ACMA started enforcing new illegal offshore gambling rules in 2017. Find out more information at https://lnkd.in/gfi4YG4B

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Sladen Snippet - TD 2024/5 – How NALI is calculated for capital gains. Read more here: https://bit.ly/3YolL1q

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The Australian Government tabled the Privacy and Other Legislation Amendment Bill 2024 last week, marking a significant shift in the way businesses must handle personal data. The Bill introduces several important reforms that businesses must be aware of, including significantly increased penalties, increased transparency and accountability, and the criminalisation of doxxing. These changes are part of a broader effort to modernise the Privacy Act, ensuring it remains fit for purpose. With the rise of data breaches, identity theft, and other online harms, the new amendments aim to bolster privacy protections for individuals while placing new responsibilities on businesses. https://lnkd.in/gUQZ38Xw #PrivacyAct #DataPrivacy #deiterate #PrivacyActAustralia #PrivacyActAmendments #DataBreach #IdentityTheft #DucksInARow

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AUSTRALIAN PRIVACY LAW ENFORCEMENT ALERT: The OAIC appears to be continuing its transition to an enforcement regulator after announcing that it is taking civil penalty action against Medibank for the massive data breach in 2022. The OAIC allege that Medibank failed to comply with APP 11 by not taking reasonable steps to protect personal information that it held. The OAIC allege this constitutes a serious interference with privacy of individuals under section 13G of the Privacy Act. Not every data breach is a breach of the Act - but if you fail to take reasonable steps in your circumstances to protect information you hold (e.g your organisation's size and complexity and the nature of the data you hold), it will be and you can expect the OAIC to come calling. Current Privacy Commissioner, Carly Kind, stated: “This case should serve as a wakeup call to Australian organisations to invest in their digital defences to meet the challenges of an evolving cyber landscape. Organisations have an ethical as well as legal duty to protect the personal information they are entrusted with and a responsibility to keep it safe.” I tend to agree with her - and the stakes are even higher now with the new penalty regime. The harsher civil penalty regime currently in the Act will not apply as it was enacted after this occured - so it is unlikely we will see the massive GDPR style fines - but a maximum fine of $2.2m per contravention could still apply. These proceedings come after an investigation was launched by the OAIC in the wake of the data breach, instigated by previous Privacy Commissioner Angelene Falk. Much like Optus, Medibank is currently also in the process of trying to keep its Deloitte and CrowdStrike written investigation reports hidden from the representative action plaintiff law firm, Maurice Blackburn. Medibank used King & Wood Mallesons as an intermediary to engage Deloitte but it will be very interesting to see what the Federal Court has to say about this engagement model and whether it will be enough to claim privilege over the report. My guess is that it will depend on how much Mallesons used the report to opine on legal matters itself (I.e was it a clip the ticket arrangement or an important input into detailed advice?) It's less straight forward than Optus so this will be a real test. Remember, to maximise your chances of claiming legal professional privilege, the communication needs to be for the dominant purposes of legal advice - and then you need to be sure not to waive it! You can set up protocols and procedures to maximise your chances of claiming LPP before an incident occurs - in fact - that's the best time to do it as the chaos of an incident inevitably leads to mistakes being made. Overall, it's great to see the OAIC maturing as a regulator - particularly with big reforms on the horizon. https://lnkd.in/ewfRzNxV #Privacy #privacylaw #medibank #privilege #cyberattack #databreach

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The first tranche of the Federal Government’s privacy reforms is before Parliament, with automated decision-making, overseas data flows and new “anti-doxxing” measures among the proposed changes. The landmark Privacy and other Legislation Amendment Bill 2024 also addresses children’s privacy and introduces a new statutory tort for serious invasions of privacy. “Businesses can stay ahead by obtaining a well-written privacy policy that is understandable, concise and aligned to business practices for collecting and storing personal information," says Cass Wright, CCIWA Legal Director Commercial Law. Find out more> https://loom.ly/N3qhOJM #CCIWA #privacylaws #legalservices

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Doing business in Solomon Islands is quite complex if you do not have any experience on the ground or if you do not get the right lead. The digital business environment is yet to be maximized, and most of the business has to be done in person. With 3-levels of governance, dealing with the national, provincial authorities, and the customary domain require some understanding of what powers and functions were devolved, what decisions and authorities remains in the customary domain, which taxes, licenses, fees, and permits apply to specific type of investments and developments. Read more below. #businessadvisories #legalminds #regulatoryenvironment #pln #pals #solomonislands #investmentopportunities https://lnkd.in/gVdJ5YSm

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Is marijuana legal in Australia? Click here for legal insight on where marijuana is legalised in Australia…

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📍ARTICLE📍 "...Due to rising threats to cyber security, service providers are also under an obligation to ensure that customer data is held securely and confidentially..." #simcardregistration 📲 #datasecurity 🔐 #dataconfidentiality 🗃 #solomonislands Read more below. 👇🏽👇🏽👇🏽 https://lnkd.in/guUHUrHu

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Following the ACCC's multi-year Digital Platforms Service Inquiry, the Australian government is consulting on a new digital competition regime that will initially target app stores and ad tech platforms. This move positions Australia as a 'fast follower' in regulating digital platforms.   The regime would address perceived competition law harms created by digital platforms. It forms part of a broader government strategy that includes privacy reforms, scam prevention legislation, and government assessment of consumer law issues arising from AI. Find out more: https://lnkd.in/gSTEnhR2 Authors: Haydn Flack and Preanka Gounden

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IT Enabled Legal Services IT Enabled Legal Services offers a cost-effective solution for legal aid with features like automated legal document generation, Q&A with lawyers, service requests, and legal blogs. Our intuitive contract generation mitigates risks specific to Bangladesh and provides a convenient way to understand legal processes in advance. This platform increases revenue for legal practitioners and the government while reducing costs for clients. Customers can access these services from our partner lawyers at pre-scheduled dates, specific locations, and known prices. The platform enhances legal awareness through blogs and the “Ask a Lawyer” feature, providing basic legal support across Bangladesh. The MVP is in English, with plans to include Bengali. IT Enabled Legal Services aims to take all kinds of legal related traffic in internet & will have panel to see lawyers or law firm from customer rating as well as a panel for legal expert advertisement. https://lnkd.in/gy9CXh7j #legal #service #legal_service #software #lawyer #bdlaw

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A Federal Court decision in Australia has helped shed light on the line to be drawn between a financial product which happens to involve a blockchain and when a blockchain itself might be found to be a financial product. The regulator had sought to group a wallet product AND the underlying blockchain as a single financial product, but the Court took a more nuanced approach in understanding the technology involved. If the regulator's position had been found to be correct, it would create a number of questions around how such a decentralised product could possibly comply with the law. The sooner there is clearer guidance for the Australian Web3 industry on these matters the better. #CryptoLaw #RegulationByEnforcement https://wix.to/84RF2yM

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Send SMS Reminders and receive real-time responses with CAS 360! 📨📲 Send SMS reminders for: ✅Document deadlines ✅Unreturned annual reviews ✅Outstanding ASIC fees to clients Each SMS includes a link to the relevant document or invoice. Clients can reply by SMS and their responses go directly into CAS 360, providing real-time conversations with clients. Learn more: https://bit.ly/2CSGIJL #BGLcorp #CAS360 #ASICcompliance #AccountingSoftware #Innovation

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Accile AI Chronicles: Daily Industry News ACM will take no action against lawyer who hosted websites that used AI to alter legitimate news stories James Raptis, the in-house counsel for regional publisher Australian Community Media, has denied any involvement or oversight in the creation of four websites that published articles using copy from legitimate news outlets. The websites, which include League Initiative and F1 Initiative, allegedly used generative AI to disguise the copied content. Despite his implication, Australian Community Media has stated that they will not take any action against Raptis. This incident brings up questions about the potential for AI to be used for unethical purposes and the importance of overseeing all operations within a company. #AIethics #corporateoversight One of the websites mentioned in the article, AliaVera, reportedly published poorly written articles that were generated using AI. This raises concerns about the quality and accuracy of content shared on the internet, as well as the potential for misinformation to spread. It also highlights the need for stricter regulations and monitoring of online content, especially if AI is involved. #contentquality #misinformation The full article is available here: https://lnkd.in/ehaCx-t7 Accile Consulting - AI Integration Specialists Are you looking to enhance your customer experience and keep up with the latest AI advancements? Partner with Accile Consulting to tap into the full potential of AI technology and revolutionize your business. #AccileConsulting #AIIntegration #Innovation #Partnership.

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Some may call me paranoid, and that's okay, I also suggest my clients be cautiously paranoid. Technology has become a constant in our lives, both at home and at work. While I’ve played my role in electronic conveyancing, I often ask myself—friend or foe, particularity when another incident hits the news. In every conversation and letter of instruction we highlight the growing risks facing the property industry. From conveyancers to agents and in this recent hack a finance brokers compromised email, we are all prime targets. During the sale or purchase of a property clients receive a barrage of emails and text messages, with requests to electronically sign Contracts, Form 1’s, and loan documents. It’s all too easy to NOT take that extra moment to scrutinize the email address or sender, which is exactly what the scammers are waiting for and becoming increasing difficult to identify. That’s why at Angie Nguyen - Convey Property Settlements, we have conversations with our clients, ensuring they are aware of these dangers, understanding our procedures and what to expect, and keeping the lines of communication open, the old fashioned way, by phone. It's not if but when and we are all responsible for cyber security #cybersmart #emailcompromised #conveyancing

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Raising the Temporary Skilled Migration Income Threshold Starting 1 July 2024, the Temporary Skilled Migration Income Threshold (TSMIT) will rise from $70,000 to $73,150. All new nomination applications from this date must comply with the new TSMIT of $73,150 or the annual market salary rate, whichever is higher. Existing visa holders and nominations submitted before 1 July 2024 will not be affected by this change. These adjustments reflect the Government’s commitment made during the Jobs and Skills Summit in September 2022. More Information Details on future income thresholds and the indexation methodology, including those for the new Skills in Demand Visa, will be announced later in 2024. Stay informed by regularly checking the Department of Home Affairs website for updates on these changes. #AustralianImmigration #TSMIT

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𝗣𝗿𝗶𝘃𝗮𝗰𝘆 𝗟𝗲𝗴𝗶𝘀𝗹𝗮𝘁𝗶𝗼𝗻 𝗘𝘃𝗼𝗹𝘃𝗲𝘀: 𝗜𝗺𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 The Australian Privacy Act has been updated! These changes will significantly impact how businesses handle personal information. Key highlights of the new legislation: • Expanded scope: More businesses will be subject to the Privacy Act. • Strengthened consumer rights: Individuals will have more control over their personal information. • Increased enforcement powers: The OAIC will have more authority to investigate and enforce compliance. • Data breach notification requirements: Businesses will need to notify affected individuals and the OAIC in some instances. Businesses must review their privacy practices and ensure compliance with the new regulations. #PrivacyAct #DataPrivacy #Cybersecurity #PrivacyLaw #AustralianBusiness #CDI

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ASIC’s landmark win against BPS Financial sheds light on financial services law boundaries regarding crypto This Federal Court ruling marks ASIC's first victory against a non-cash payment facility involving crypto, highlighting the evolving boundaries of financial services law in the crypto sector. The decision underscores the importance of understanding the mechanics of crypto offerings, as courts scrutinise them beyond their form. Additionally, the ruling sheds light on the interpretation of the authorised representative exemption, potentially impacting ASIC's approach to regulatory enforcement in the future. #crypto #blockchain #fintech Blockchain Australia Hall & Wilcox Max Ding Wilson Lee https://lnkd.in/g4XbfzwD

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🔒 Cybersecurity: Practical Guide for Compliance 🔒 In today's digital age, cybersecurity is a critical concern for businesses of all sizes and industries. With cybercrime causing an astounding $8 trillion in annual financial losses globally, the importance of robust cybersecurity measures cannot be overstated. Our latest post provides a comprehensive yet practical guide to help businesses navigate the complex world of cybersecurity. From understanding the threats to implementing effective protection strategies and complying with local regulations, this guide is designed to empower your organisation to stay secure. Don't let cyber threats jeopardise your success! Whether you're just starting your cybersecurity journey or looking to enhance your current practices, our team is here to assist. We specialise in legal and cybersecurity expertise to ensure your business is well-protected and compliant. Post by León Lanis https://lnkd.in/eR_j4fFe

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