SINGAPORE : Many organisations in Singapore lack business behaviours and compliance practices to address consumer and regulatory concerns about privacy and data security.
According to a survey conducted by US-based research centre Ponemon Institute, only three out of 10 companies in Singapore consider privacy and protection of personal information a corporate priority.
Seventy per cent of the participants in Singapore said their organisation does not consider privacy and the protection of personal information to be a corporate priority.
This figure is much higher than the global average of 57 per cent.
Meanwhile, 43 per cent of the respondents surveyed in Singapore said their organisation does not have the expertise, training and technology.
Only 35 per cent said their companies have adequate resources to protect personal information.
A third believed their company is not transparent about what it does with employee and customer information.
The results are in contrast to the growing consumer and regulatory pressure on companies to handle personal data responsibly and securely. Businesses in Singapore are set to face similar scrutiny when the personal Data Protection Bill is enforced into an act in January 2013.
The findings - the Edelman Privacy Risk Index - are part of a global survey of some 6,400 corporate privacy and security executives across 29 countries and regions, including Singapore.
- CNA/ms
30% of S'pore firms consider data security a corporate priority: survey
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30% of S'pore firms consider data security a corporate priority: survey
