Latest news with #DataProtectionTrustmark
Business Times
07-07-2025
- Business
- Business Times
Daily Debrief: What Happened Today (Jul 7)
Stories you might have missed Six golf courses, including at Tanah Merah Country Club, Singapore Island Country Club to close by 2035 Four sites will be released for other uses, while two will be combined for a public golf course. Data Protection Trustmark elevated to Singapore Standard Helps certified organisations show their commitment to effective data protection; other initiatives include a technology adoption guide and an AI regulation sandbox. Low mortgage rates help; but be cautious in pursuing condo dreams as economic outlook weakens BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Don't raid the CPF account for a private home. Tariff tracker: Where South-east Asia and China stand as the clock runs down The 90-day tariff truce is nearly up and the stakes just got higher. From low-key talks to last-ditch concessions, here's how Asean and China are navigating the bumpy patch. Here are the top 10 best performing stocks in Singapore's STI for the first half of the year The trio of local banks – DBS, UOB and OCBC – however, are not on the list, taking 18th, 19th and 20th place, respectively.
Business Times
07-07-2025
- Business
- Business Times
Data Protection Trustmark elevated to Singapore Standard
[SINGAPORE] With a more developed data protection ecosystem already in place, the next step is for more formal standards to be put in place, said Minister for Digital Development and Information Josephine Teo. She was speaking at the opening of the Personal Data Protection Week held at the Sands Convention and Expo Centre on Monday (Jul 7) where she announced the elevation of the Data Protection Trustmark (DPTM) to the Singapore Standard 714. Prior to this, the trustmark did not have a Singapore Standard. The Infocomm Media Development Authority (IMDA) worked with Enterprise Singapore and the Singapore Accreditation Council to elevate the DPTM to the Singapore Standard, Teo added. The DPTM Singapore Standard provides organisations with clearer data protection requirements around critical areas such as third-party management and overseas transfers, said IMDA in a press statement. It helps certified organisations to demonstrate their commitment to effective data protection, IMDA added. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'Companies that demonstrate accountable data protection practices can now apply to be certified under this new standard, which will set the national benchmark for companies that want to demonstrate data protection excellence,' said Teo. The theme for the Personal Data Protection Week this year is 'Data Protection in a Changing World', which acknowledges the significant changes in both our global operating environment and the world of technology, said the minister. These 'twin forces' have disrupted workplaces, homes and relationships with each other, she added. 'It is inevitable that we must adjust our practices, laws and even our broader social norms.' Teo added that the importance of data in the age of artificial intelligence (AI) is as pertinent as ever, noting that generative AI models are built on vast amounts of data throughout its development life cycle. 'Given the criticality of data in the AI age, it should not be surprising that data has also become a limiting factor to continuing advancement,' she said.
