Singapore legislation
Section 70
Section 70
Duty to maintain security and integrity of borrower information, etc.
Amended by7/20187/2018
(1)
A licensee must —
(a)
ensure the integrity of any borrower information it provides to the designated credit bureau; and
(b)
protect any information in any credit report received from the designated credit bureau by making reasonable security arrangements to prevent unauthorised access, collection, use, disclosure, copying, modification, disposal or similar risks.
Amended by7/2018
(2)
Any licensee who without reasonable excuse contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 6 months or to both.[30R
Amended by7/2018