The President of the Philippines, Benigno Aquino Jr. III suggests to include Data Privacy Bill in the administration legislative agenda.
The President stated he would like the senate to pass this bill for the security and safety of the BPO Business in the country. This is to also attract more potential investors once the bill becomes a law; together with Senate President Juan Ponce Enrile and House Speaker Feliciano Belmonte in the Legislative-Executive Development Advisory Council or LEDAC.
Why It was Created
The data protection or data privacy bill prevents harm, providing notice, and putting limit to data collection. This was stated by Law maker Edgardo Angara said in an introduction speak on the bill in the Senate floor.
The demand by the members of IT-BPO industry pushed for the creation of the bill. The country has not yet passed any law regarding data protection. A recent study of Verizon Risk Team with US Secret Service and the Dutch High Tech Crime Unit showed the endangerment of 96 percent of payment card data. Viruses and Malware were the cause of the data breach.
The bill protects all forms of data. It also will push the private and public sectors to keep their data information secure. The bill will also have fangs to put people who would commit theft behind bars to give them proper punishment.
Protecting Information and Investors
It won’t only attract investors to put outsourcing Philippines, but to improve investors’ confidence as well. There are many registered BPOs in the Philippines to date. The revenues that the government is getting from this is one of the reasons why the economy is still “fairly-good.”
Information is expensive and important. Making this as a law will give Philippines a notch higher to other competitor countries that also offer BPO. The Philippines is showing that it is seriously committed in protecting information.