In a submission to the parliamentary inquiry into the data retention regime, ASIC revealed it had used the laws 4,982 times to investigate white-collar crimes.
The data retention laws require companies to retain phone and internet records for all Australians to assist law enforcement authorities like ASIC.
As part of the legislation, agencies must report how many times they access metadata in part to allay concerns about potential overreach.
ASIC, in revealing its access, said that the most common data accessed was data over a three-month period for investigations into suspected insider trading.
‘Enforcement 40’ for 2020
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