DATA PRIVACY AND SECURITY UNDER PDPA
Personal Data Protection Act (PDPA) a data protection law based on the accountability principle and for protecting personal data. New personal data protection laws are coming into force and outdated laws continue to be updated.
Personal data refers to data, whether true or not, about an individual who can be identified from that data; or from that data and other information to which the organization has or is likely to have access. Personal data in Singapore is protected under the Personal Data Protection Act 2012 (PDPA).
The PDPA establishes a data protection law that comprises various rules governing the collection, use, disclosureand care of personal data. It recognizes both the rights of individuals to protect their personal data, including rights of access and correction, and the needs of organizations to collect, use or disclose personal data for legitimate and reasonable purposes.
With the increasing need of identification and verification of individuals across different industries of various service sectors, collection and disclosure of personal data is inevitable.
With today’s technology advancement and sophisticated market, the environment creates multiple challenges for organizations, these challenges could include:
- Inadequate resources to provide a full data protection function in the organization
- Complex data collection, management and retention by organization with layers of subsidiaries
- Exponential growth of data from clients, business partners, internal employees
- Inadequate knowledge with regard to the legislation (skills gap)
- The number of open vulnerabilities
- An increasingly advanced technology landscape
- Tendency of human error that can lead to potential breaches and level of complexity
- Impact of security breaches
OUR PDPA COMPLIANCE SERVICES
At Amicorp, we have dedicated teams with in-depth experience and knowledge. We can provide a full assessment and assist with the implementation of data privacy for businesses wanting to comply with the new rules of regulations. The main topics of our service include assistance with changing processes, creating policies, and adjusting the overall approach to data privacy. These services include but are not limited to:
BENEFITS FOR YOUR BUSINESS
- Prevent compliance breaches
- Avoid regulatory penalties and fines
- Minimize audit findings
- Prepare for regulatory inspection
- Reduce compliance risks
- Improve risk management
- Cost effective
Our team of experts have many years of regulatory, compliance, risk, governance and fiduciary experience in Singapore, Hong Kong, New Zealand, Cayman Islands, Mauritius and Europe.
We in Amicorp support our clients with a broad range of compliance consultancy and solutions, including wealth management and trustee services.
For more information:
Jose Renato - firstname.lastname@example.org