22 Dec '17, 1pm

Everything You Need to Know about Singapore’s Personal Data Protection Act https://t.co/RwMa52SyF0

Everything You Need to Know about Singapore’s Personal Data Protection Act https://t.co/RwMa52SyF0

Singapore’s Personal Data Protection Act (PDPA) governs the way companies in the country collect, store, use and disclose data. In order to comply with KYC (Know Your Customer) laws, fintech companies must collect personal data from customers. And that, in turn, means they need to make sure they comply with PDPA. The PDPDA was drawn up in 2012 and came into full effect on 2nd July 2014. To comply with the act, companies must: Notify their customers if their data is being disclosed, collected or used, and only use that data for the purposes defined. Ensure consent has been granted by individuals before collecting, using or disclosing their data. Upon request, an organization must be able to provide information on how a customer’s data has been used in the past 12 months. Ensure personal data is complete and accurate. Ensure data is kept secure from unauthorized access, modi...

Full article: http://fintechnews.sg/15614/security/everything-need-know...

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