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CHINA: New draft proposes more stringent requirements for processing data in the financial services industry

DLA Piper Privacy Matters

Authors: Carolyn Bigg, Amanda Ge and Venus Cheung On July 24, 2023, the People’s Bank of China (“ PBOC ”) released the Measures for the Management of Data Security in the Business Areas Falling into PBOC’s Jurisdiction (Draft for Comment) (“ Draft Measures” ) for public consultation, which closes on August 24, 2023.

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China: Navigating China episode 16: New data lifecycle guidelines for financial institutions in China – detailed assessments, additional security measures and some data localisation introduced

DLA Piper Privacy Matters

This introduces a data lifecycle security framework, and represents the key guideline for handling personal and other financial information by financial institutions (i.e. similar to the PIS Specification, but focused on the banking and financial services industry). Level 1: public data.

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China’s PIPL has finally arrived, and brings helpful clarification (rather than substantial change) to China’s data privacy framework

DLA Piper Privacy Matters

This aligns with other recent guidance putting clearer parameters around use of biometric data in China). Purposes/Restrictions on Use Collection and processing of data must be directly related to the purpose of processing specified in the privacy notice. Excessive data collection must be avoided.

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An Approach to Cybersecurity Risk Oversight for Corporate Directors

Data Matters

Encrypting critical data assets. Encrypting Critical Data Assets. Directors should develop at least a high-level familiarity with how data is secured ( e.g. , encryption of critical company data, both while at rest and in motion). Creating an enterprise-wide governance structure.

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CPRA Becomes the New Standard. Are You Ready?

Thales Cloud Protection & Licensing

It amends the California Consumer Privacy Act (CCPA) and goes into effect January 1, 2023, for all data collected starting January 1, 2022 1. Enterprises should now be working to discover and classify their data to know if they have Sensitive Personal Information that can be breached. The Long Arm of California.

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Nation-State-Sponsored Attacks: Not Your Grandfather’s Cyber Attacks

Data Matters

19, 2022, President Biden signed the National Security Memorandum, which implemented requirements from EO 14028 by setting out specific cyber requirements for government agencies and contractors, such as multifactor authentication, encryption, cloud technologies, and endpoint detection services. Press Release No. 20, 20220).

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The Week in Cyber Security and Data Privacy: 22 – 28 April 2024

IT Governance

European police chiefs call for an end to end-to- e nd encryption A joint declaration by the European police chiefs calls for tech companies to limit end-to-end encryption so the companies can identify and report illegal activity on their platforms, and enable law enforcement investigations to access secure messages.