Singapore, with its trusted data and analytics hub ambitions, may have lessons to learn from the slew of recent moves by the US. Federal agencies made some of the country’s largest telecommunications and technology companies accountable for mismanagement of US citizens’ personal data.
COMMENTARY
ON 28 FEBRUARY 2020, the United States Federal Communications Commission (FCC), the regulatory agency overseeing communications by television, satellite, radio, wire, and cable across the US, announced that it was going to propose some of its most substantial financial penalties against four of the largest US mobile networks carriers.
These proposed penalties, in excess of US$200 million, would be in respect of these carriers – Sprint, T-Mobile, AT & T, and Verizon ̶ selling customers’ real-time location data. This would be the first instance of the FCC addressing this issue of location data transactions in terms of privacy invasion.
Free Market Failures
For some time now, there has been a thriving market in location data and the lack of regulation around it, as highlighted in an earlier commentary addressing the issue of data privacy erosion and security.
Countries that have the business presence of some of these carriers, as well as countries that have data hub ambitions – like Singapore – will be watching this move by the FCC very carefully, as the outcomes of this will have accompanying ramifications for compliance and governance.
Read more at https://www.rsis.edu.sg/rsis-publication/cens/personal-data-its-value-risks-and-potential
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