Companies across Asia are facing increased scrutiny on data privacy and protection, as well as cybercrime, as the corresponding governments strengthen or create laws in an attempt to mitigate the increased frequency and severity of cyber attacks. Governments have also enhanced the enforcement of relevant laws.
In order to minimise exposure to potential regulatory action, it has been recommended in a new report by Marsh that companies with single or multinational operations in Asia closely monitor the changing landscape. Jurisdictions Singapore, the Philipines, South Korea, India and Taiwan have already adjusted acts designed to prevent cybercrime and protect personal information, while China, Indonesia, Japan, Thailand and Vietnam are currently either reviewing legislation or having draft bills put before parliament. Some have chosen to set up separte government agencies and taskforces to deal with cybercrime.
To find out more about the enforcement of Singapore’s PDPA, read Singapore’s Personal Data Protection Act in Effect