Singapore Businesses Can Turn GDPR Into a Transformational Opportunity

GDPR

On May 25, 2018, the () General Regulation () becomes enforceable across the member states. It is intended to strengthen and unify data protection for all individuals within the union as well as addressing the export of personal data outside the .

While the regulation is primarily focused on business operating in , it does not only affect European companies. Any organization that does business or operates in , will be subject to GDPR and this includes companies located in that conduct business in , or with European companies.

With only a few weeks left before GDPR comes into force, are Singapore companies lacking in preparations for the new regulatory environment? According to a survey from EY this appears to be the case. The survey seems to confirm the city-state’s lack of preparation with a majority of companies in Singapore stating that data protection and is a growing concern, yet only 10% have a plan in place for GDPR.

Source: Networks Asia