Murphy Choy

Singapore data protection act: it’s impact on business

In Uncategorized on October 10, 2011 at 3:56 pm

Recently, the Singapore government has decided to review its existing data protection schemes in which there were attempts to change the existing model from opt in to opt out structure. This sudden change will have a dramatic effect on the local business. This is because the act is going to impact the abilities of the local businesses in sharing their data among businesses. While it is harmful to the local business, it will ultimately benefit the entire economy.

 

One reason why the data protection act is so important is because it allows the consumers to protect their private information from users or businesses whom they have not authorised to access this information. While many will argue that information is easily available from the Internet or lucky draw surveys, one must know that when the new regulation comes into force it will prevent collectors of such information from selling this information to third parties. This act will ultimately prevent the proliferation of mystery calling where scammers will attempt to extort money from innocent parties. I believe this is a direct response to the widespread and increasing incidents of calling extortion cases originating from overseas sources. while there are alternatives to extract information, these channels will be by far few and limited in depth.

 

However, data protection act will benefit the economy as Singapore is growing as the regional data centre as well as analytic hub. Such strong regulations as well as preventive measures will indirectly cut any abuses of data and promote Singapore as a positive data destination for countries in Europe and the United States of America. While most of the analytical work are happening in India or China, countries such as America will find it’s sensitive to send information to anywhere in China. Singapore being a neutral place will be the ideal destination as a data centre hub for many of these countries.

 

Hopefully this act will ultimately benefit the Singapore economy.

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