Data protection and privacy are among the many concerns for business and organization-wide privacy decision-makers, around the world. Security and privacy professionals in North America now need to better understand the privacy and data protection trends in Asia Pacific and continuously evaluate their organizations’ readiness to address regulatory and business requirements when doing business in these countries. Some organizations who do business with the Asia Pacific countries may even need to re-design and/or execute a data protection and privacy strategy.
In recent years, the Asia-Pacific region has seen the most rapid development in privacy laws globally. Companies that operate in the region and that collect, store, and use personal information can expect increasing compliance challenges in the face of new and evolving data protection regimes. Specifically, key trends across the region include the following:
- New Data Privacy Regulations in Many Countries: A number of countries throughout the Asia-Pacific region recently adopted or are planning to adopt new data privacy regulations, including Malaysia, the Philippines, and Singapore.
- Penalties for noncompliance are increasing.
- Cross-border transfers of personal data are unevenly regulated. Similar to the European Union (EU), some Asia-Pacific jurisdictions, including South Korea and Australia, only permit cross-border transfers of personal data where the destination country has “adequate” data protection laws in place or where prior consent is obtained.
As data protection regulations continue to develop throughout the Asia-Pacific region, it is more crucial than ever before that businesses that operate with the region develop their compliance positions to avoid regulatory investigations, fines, and other sanctions.