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Ken Chia

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The Monetary Authority of Singapore (MAS) recently revised its Technology Risk Management Guidelines 2021 after feedback from a 2019 public consultation and engaging with cyber security experts. In this episode, Stephanie Magnus, Ken Chia, and Ying Yi Liew take a closer look at compliance, regulator expectations, cyber threats, and other important considerations — taking into account that financial institutions encompass large multinational banks, insurance companies and small fintech startups. https://soundcloud.com/user-879185301-820444966/ep12-singapore-mas-revises-technology-risk-management-guidelines

Happy Data Protection Day! The 28 January each year is celebrated as Data Protection Day (or Data Privacy Day outside of Europe), which marks the anniversary of the Council of Europe’s Convention 108. To mark Data Protection Day 2021, we have summarised some of the key trends and developments in the EU, UK and beyond from a data protection perspective and looking ahead to what to expect for 2021. You can jump to specific country…

The Personal Data Protection Commission (“PDPC”) has recently introduced and updated its advisory guidelines to help companies better protect personal data in compliance with the Personal Data Protection Act (“PDPA”). The new Guide to Preventing Accidental Disclosure When Processing and Sending Personal Data as well as updates to the (a) Guide to Securing Personal Data in Electronic Medium; (b) Guide to Disposal of Personal Data on Physical Medium; and (c) Guide on Building Websites for…

In May 2015, Singapore Customs revised its Guide to “Keeping and Maintaining Records in Image System”. The Guide includes a new requirement that where importers, exporters and their agents (collectively, “Traders”) use a storage system to store and retrieve records (an “Image System”) without retaining physical copies, they must use a system with proven hardware and software components reputable for security, quality and performance to satisfy their retention obligations.If Traders fail to comply with their…