SIMPLIFYING THE KEY OBLIGATIONS UNDER SINGAPORE PERSONAL DATA PROTECTION ACT (PDPA)

Category:? Data Privacy

Learn how we simplify the key privacy obligations for businesses and provide tips on helping businesses get started

Written By Ericz Ezekiel Tay

What You Need to Know

• Key obligations.? In today's interconnected world, understanding privacy requirements and implementing them can seem daunting. To simplify this complex topic, we summarize the key obligations into 2 main concepts below.

• Why is it important for businesses??Ensuring privacy requirements under the PDPA has several benefits, which can be summarized into three points below.

1. Protecting customer trust and reputation increases business opportunities.?Maintaining data privacy safeguards customer trust and confidence. Breaches can damage a business's reputation and lead to customer loss. Customers, especially in finance and healthcare, are increasingly seeking partners who can show that they have processes that comply with privacy requirements. Some have requested certifications such as ISO and Data Protection Trustmark.

2. Mitigating Financial Risks, Penalties, and Operational Disruptions.? Ensuring compliance avoids severe legal repercussions such as:

-Fines up to 10% of annual turnover or $1 million, whichever is higher

-Imprisonment of up to 3 years

-?Civil claims from customers for breach of contract or individuals for losses suffered due to data breaches

3. Increasing employee loyalty.? Employees are more vocal and increasingly drawn to businesses that prioritize responsible practices. Knowing the company respects the collection and handling of personal information from individuals, customers, and communities may boost employee motivation in their work.

Action Required

We offer some tips on some basic steps to examine and enhance the privacy arrangements in your business.

Get in touch with us to learn more. We are here to partner with you, offering an unbiased perspective and exploring practical alternatives.