Countdown Clock Begins for Singapore Data Compliance
"The official ""in-force"" date for Singapore's Personal Data Protection Act has been set for July 2, 2014, and organizations shouldn't underestimate the time and effort needed to ensure compliance. The is the day when the Act will come into effect and when organizations will need to complete data inventory mapping, process audits, staff training, and publication of various processes. Small and midsize businesses (SMBs) will be glad to note that several tools and trainings have been introduced by the PDPC (Personal Data Protection Commission) to aid the process, while larger organisations have slightly more than 13 months to finish their data compliance projects. Most projects should take around 9 months. Another point to note is that the more competent consultants in the industry will likely be snapped up so organizations should act quickly to secure such resources if they should require them. The government has also announced it would enhance information-sharing with other countries to prevent cross-border tax evasion, coming on the back of the ICIJ's ""wikileaks"" sized expose of the use of shell companies."