Investing in data protection is a crucial component of business costs
IT seems that not a week goes by these days without some news of a data leak or a company being found guilty of breaching data privacy laws in Singapore. On Wednesday, it was reported that five companies were fined S$117,000 in total for failing to secure the personal details of their customers and staff.
Swedish retailer Ikea on Sunday apologised to affected customers in Singapore for inserting 410 individual e-mail addresses in a wrong message field of a promotional mailer and sending it out.
Recently, news broke that more than three million records of the customers of beauty retail giant Sephora are being peddled on the Dark Web - a part of cyber space accessible only through a certain type of software, which means that users and Web site operators are anonymous and difficult to track down.
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Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access