Singapore has become the latest member of the APEC Cross-Border Privacy Rules System, a further boost for e-commerce growth and the protection of sensitive online consumer data in the Asia-Pacific.
The move recognizes that Singapore’s personal data protection law is aligned with the system to facilitate data flows between economies and prevent accidental disclosure and misuse of personal data derived from transactions online. These range from internet banking, sales and transfers of education, health and travel records, to social media posts, instant messaging and GPS signals.
Singapore is the APEC Cross-Border Privacy Rules System’s sixth participant, joining Canada, Japan, Korea, Mexico and the United States. The arrangement was finalized during policy consultations among e-commerce officials from the APEC region in Port Moresby.