(Reuters) — Australia’s regulator said on Thursday it will work with the government and other regulators on “controlled process” data sharing between its regulated entities and Singapore Telecommunications unit Optus.
The move comes weeks after Optus, the country’s second largest mobile operator, suffered a massive cyber attack that compromised the data of up to 10 million customers.
The cyber attack, which was followed by a data breach at the country’s largest telecom company Telstra Corp. Ltd. earlier this week, served as a wake-up call for regulators and lawmakers to strengthen cyber defenses.
Earlier in the day, Australia proposed an overhaul of consumer privacy rules, including changes that would allow telcos to share government-issued ID documents with banks.
The changes will allow telcos to implement enhanced monitoring for customers affected by data breaches, in addition to fraud detection within the wider financial services sector.