CASE STUDY: CHANGE IN SITUATION Due to the recent data security breach of a major telecommunications player, the Federal Government has issued a requirement that data security practices for financial institutions must ensure that all personal data is encrypted and stored securely, and must be destroyed once the client is no longer a client. These practices must be updated and included within risk management frameworks within 3 months of the Federal Government issuing the directive. At the end of the 3 month period, financial institutions are to provide evidence of compliance to the Federal Government and APRA.

QUESTION complete the analysis and provide your recommendationsfor above case study changes in situation.

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