Page 8 - DICCS2223 25Feb2022
P. 8

                  DIRECTORY OF CERTIFIED COMPANIES IN SINGAPORE 2022/2023
 PERSPECTIVE:
DATA PROTECTION
IN A POST-COVID WORLD
  The pandemic has caused a digital shift in buying behavior over the past 2 years. Consumers are also getting more comfortable in purchasing daily essentials like fresh
groceries, household needs, and personal care online. According to Mr. Benjamin Joe, vice president of South-east Asia and emerging markets at Facebook, E-commerce has outranked gaming as one of the top activity consumers do online.
The growth of E-commerce is likely powered by the drive of streamlined user experience, transparent communication, and the possible influence of ongoing pandemic measures. A report released by Facebook and management consultancy Bain & Company has also highlighted that the E-commerce sales in Singapore are expected to grow to US$10 billion (S$13.4 billion) by end of 2026.
With the accelerated demand of E-commerce while Singapore works toward a post-COVID world, data protection compliance is one crucial area that businesses should focus on.
The Personal Data Protection Act 2012 (PDPA) is a primary governing act that is not foreign for businesses in Singapore. Several amendments to the PDPA have also been implemented throughout the years. This has given businesses in Singapore clearer requirements of handling personal data information, which ideally strengthens Singapore’s positioning as a trusted hub in the near future. With the PDPA in place, a voluntary enterprise-wide certification on accountable data protection practices is now available.
   6

























































































   6   7   8   9   10