Parliament: Heavier fines for data breaches, more support for legitimate business uses of data under amended PDPA

SINGAPORE - Companies will be penalised more heavily for data breaches while also getting more freedom to use personal data to innovate under changes to Singapore's data protection laws passed in Parliament on Monday .

Mr Iswaran addressed concerns raised about the higher fines during public consultations prior to the passing of the Bill, as well as by Mr Desmond Choo on Monday. The Bill also allows organisations to collect, use or disclose personal data without the consent of individuals in circumstances classified as"legitimate interests", so long as these organisations conduct an assessment to eliminate or reduce the risks involved, and ensure the overall benefits outweigh any adverse effects.

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Seoul: Stocks mark best day in over two months on strong exports, China data[SEOUL] South Korean shares on Monday marked their sharpest daily gain in more than two months as strong domestic export data and China factory activity offset caution over the US election and global coronavirus lockdowns. The won and the benchmark bond yield rose. Read more at The Business Times.
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