Keeping in view the highest level of privacy, The Singapore Parliament has passed the Cybersecurity (Amendment) Bill (“Bill“) amending the Cybersecurity Act 2018 (“Act“). The Act, which formerly only regulated Critical Information Infrastructure (CII), has been expanded significantly to cover a wider range of entities.
Reporting obligations have been expanded. Finally, the penalty regime has also been revised, and the Cybersecurity Agency of Singapore (CSA) may now issue civil penalties in place of criminal penalties, with the maximum quantum of penalties significantly increased to up to 10% of the annual turnover of the entity in Singapore.
