This report examines corporate crime, focusing on data protection, privacy, and cybersecurity in the context of increased globalization and reliance on information technology. It analyzes the Facebook-Cambridge Analytica case as a prominent example of data privacy breaches and their economic impact. The report summarizes key features of the European Union's General Data Protection Regulation (GDPR) and contrasts it with the regulatory scheme in the United States, highlighting differences in approach. It emphasizes the importance of balancing strict regulations with general guidelines for effective enforcement of privacy and data security laws, particularly in the context of Australia and its economic hub, Melbourne. The report concludes by suggesting that a balanced approach is necessary for effective enforcement of privacy and data security laws to prevent corporate crime.
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