PDPA
Singapore regulation for personal data protection compliance
Basel III
Global framework for bank capital, leverage, liquidity standards
Quick Verdict
PDPA governs personal data protection for Singapore organizations, ensuring privacy compliance via DPO and DPIAs. Basel III mandates bank resilience through capital, leverage and liquidity ratios. Firms adopt PDPA for legal compliance; Basel III for financial stability and supervisory approval.
PDPA
Personal Data Protection Act 2012
Key Features
- Mandates senior Data Protection Officer appointment
- Enforces structured A-C-R-E breach notification framework
- Requires Data Protection Management Programme implementation
- Supports deemed consent and legitimate interest exceptions
- Demands reasonable security with PETs and encryption
Basel III
Basel III: Finalising post-crisis reforms
Key Features
- CET1 minimum 4.5% plus 2.5% conservation buffer
- 3% non-risk-based leverage ratio backstop
- LCR requiring HQLA for 30-day stress outflows
- NSFR ensuring stable funding over one year
- Output floor constraining internal model RWAs
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
PDPA Details
What It Is
Personal Data Protection Act 2012 (PDPA) is Singapore's principal legislation regulating collection, use, disclosure, and protection of personal data by private sector organisations. It adopts a principles-based, risk-focused approach balancing individual privacy rights with business needs, administered by the Personal Data Protection Commission (PDPC).
Key Components
- Nine core obligations: consent, notification, access/correction, accuracy, protection, retention limitation, transfer limitation, accountability, breach notification.
- Anchored in Data Protection Management Programme (DPMP) framework.
- Mandates DPO appointment and tools like DPIAs, data inventories.
- Compliance via demonstrable governance, no formal certification.
Why Organizations Use It
- Meets legal obligations with fines up to S$1M or 10% revenue.
- Reduces breach risks, enhances data-driven innovation.
- Builds stakeholder trust, supports partnerships/digital transformation.
- Mitigates enforcement via documented accountability.
Implementation Overview
- Phased DPMP: governance, assessment, policies, processes, maintenance.
- Key activities: data mapping, DPIAs, vendor contracts, training, A-C-R-E playbooks.
- Applies to all Singapore private sector handlers; scalable for SMEs via templates.
Basel III Details
What It Is
Basel III is the global regulatory framework for more resilient banks and banking systems, issued by the Basel Committee on Banking Supervision (BCBS) post-2007-2009 financial crisis. It strengthens prudential standards through risk-based capital requirements, leverage constraints, and liquidity metrics to address capital quality, excessive leverage, and funding shocks.
Key Components
- **Pillar 1Minimum ratios (CET1 4.5%, Tier 1 6%, Total 8% of RWA), conservation/countercyclical/G-SIB buffers; 3% leverage ratio; LCR/NSFR liquidity standards.
- **Pillar 2Supervisory review via ICAAP and stress testing.
- **Pillar 3Standardized disclosures (RWA comparability, leverage templates, encumbrance). Built on three-pillar structure; no fixed controls, compliance through national implementation.
Why Organizations Use It
Banks implement for mandatory regulatory compliance, enhanced shock resilience, systemic risk mitigation, and improved comparability. Benefits include better capital usability, reduced model risk, stakeholder trust via disclosures, and strategic balance-sheet optimization.
Implementation Overview
Phased enterprise transformation: gap analysis, data/system upgrades, model revisions, governance. Targets internationally active banks globally via domestic laws; ongoing supervisory oversight, Pillar 3 reporting; multi-year timelines with transitions.
Key Differences
| Aspect | PDPA | Basel III |
|---|---|---|
| Scope | Personal data protection, privacy principles | Bank capital, liquidity, leverage requirements |
| Industry | Private sector organizations, Singapore-focused | Internationally active banks, global standards |
| Nature | Mandatory privacy regulation, PDPC enforcement | Prudential banking standards, supervisory implementation |
| Testing | DPIAs, PATO self-assessments, audits | Stress tests, ICAAP, RWA validations |
| Penalties | Fines up to S$1M or 10% revenue | Capital add-ons, business restrictions, enforcement |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about PDPA and Basel III
PDPA FAQ
Basel III FAQ
You Might also be Interested in These Articles...
NIST CSF 2.0: Key Enhancements and How They Address Evolving Cyber Threats
Explore NIST CSF 2.0 updates: Govern function, supply chain security, SME playbooks for ransomware & AI threats. Boost your cyber defenses now!
Beyond the Boardroom: 5 Ways Modern Compliance Software Elevates Every Department
Discover 5 ways modern compliance software boosts HR, IT, finance & more: automate risks, enhance efficiency, ensure data integrity, stay audit-ready. Elevate y
The Regulatory Radar: How Data-Driven Compliance Tools Provide Strategic Foresight
Unlock strategic foresight with data-driven compliance tools. Act as your regulatory radar: real-time monitoring, automated insights, and 3x cost cuts. Anticipa
Run Maturity Assessments with GRADUM
Transform your compliance journey with our AI-powered assessment platform
Assess your organization's maturity across multiple standards and regulations including ISO 27001, DORA, NIS2, NIST, GDPR, and hundreds more. Get actionable insights and track your progress with collaborative, AI-powered evaluations.
Check out these other Gradum.io Standards Comparison Pages
BRC vs EU AI Act
Compare BRC vs EU AI Act: Decode food safety standards against AI regulations. Key differences, compliance strategies, risks & implementation tips for global ops. Dive in now!
FERPA vs C-TPAT
Discover FERPA vs C-TPAT: Compare student privacy laws with supply chain security standards. Unlock compliance strategies, risks & best practices for success. (152 characters)
WEEE vs ISO 26000
Discover WEEE vs ISO 26000: EU's binding e-waste directive meets voluntary SR guidance. Master compliance, risks, and sustainable strategy. Unlock insights now!