New initiatives to facilitate cross-border data transfer and...

[SINGAPORE] New initiatives to facilitate cross-border data transfer and artificial intelligence (AI) safety were among the slew of announcements by the Infocomm and Media Authority of Singapore on Wednesday (May 28). A new Global Cross-Border Privacy Rules (CBPR) certification was announced, which would give businesses certainty in international data transfers. The certification would show compliance with internationally recognised data protection standards. This new certification is built on the Asia-Pacific Economic Cooperation (Apec) CBPR certification. OCBC is among the 100 Apec CBPR-certified organisations expected to benefit. At the start, the global CBPR certification will give access to nine economies - US, Australia, Japan, South Korea, Singapore, Canada, Philippines, Chinese Taipei and Mexico. The global CBPR certification will take effect on Jun 2. "Robust safeguards and ...