Indonesian authorities recently passed a new law on the regulation of E-Commerce activities that covers a broad scope of market players. The new law requires entities to obtain an e-commerce business licence and comply with personal data protection standards, among other requirements. Foreign Business Actors with a customer base in Indonesia may also face taxation or additional regulatory implications under this new law.
Nov 20 2019 - OrionW
Singapore FinTech Festival 2019, held from 11 to 15 November 2019, was attended by over 60,000 people from about 140 countries. During the festival, Singapore's regulatory authorities made several key announcements on projects and national strategies that are currently being undertaken to benefit and enhance Singapore's financial technology (FinTech) industry, including initiatives in FinTech investments, technology innovation collaboration, artificial intelligence projects and cybersecurity cooperation.
Recent decisions of the Personal Data Protection Commission emphasise the importance of security measures to protect personal data in any organisation's possession or control. The decisions stressed that regular and in-depth testing are important factors in minimising unauthorised exposure of personal data. Organisations are strongly encouraged to review and update security measures where required.