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DATA PROTECTION: COST-EFFECTIVE STRATEGIES FOR MANAGING COMPLIANCES RISKS IN ACCORDANCE WITH VIETNAMESE LAW

posted 9 months ago

This article explores cost-effective approaches that businesses can adopt to ensure adherence to Vietnamese data protection regulations while minimizing financial burdens. By implementing these strategies, organizations can protect their data, maintain regulatory compliance, and enhance trust with stakeholders.

1. In brief

In the near future, businesses, especially those with an international presence, will confront stringent regulations aimed at safeguarding the data of Vietnamese individuals. Additionally, companies must stay updated on any changes made to the regulations. Failure to comply could result in severe consequences. Consequently, businesses should take proactive measures to ensure they are in full compliance with the evolving regulations. Moreover, companies should consider seeking legal advice and guidance to navigate the intricacies of the regulations effectively. Foreign companies should take note that these regulations were issued by the Ministry of Public Security (MPS), which underscores the importance of developing innovative compliance programs.

2. Consent of collecting personal data

The new regulations highlight the consent of the data subject as a significant requirement. Companies possessing data now have a legal obligation to inform the data subject about the type of data being processed, the purpose of processing, the identity of the entity performing the processing, and the rights and obligations involved. Companies will face the challenge of establishing efficient procedures to comply with these consent requirements, or they may consider outsourcing this service. Under the new regulations, companies must actively seek express consent from the data subject. 

Consent form of data subject

This consent could be obtained through written agreements, verbal confirmation, check boxes, text messages, or other suitable means. Silence or the absence of an explicit action is not considered consent.

Implementation and competent authorities

Moreover, entities responsible for controlling and processing personal data must prepare and maintain a “dossier for the assessment of the impact of personal data processing.” This dossier will be inspected and evaluated by the Ministry of Public Security. In addition, it must be submitted to the Department of Cyber Security and Hi-Tech Crime Prevention within 60 days of commencing personal data processing. Moreover, any updates or changes to the processing impact assessment dossier must also be reported. Furthermore, companies dealing with significant amounts of data may need to create dedicated positions to ensure compliance with these regulations.

Lastly, there are additional requirements for cross-border transfers of personal data. Once again, the consent of the data subject is necessary, and a transfer impact assessment dossier must be created. To simplify compliance, international companies may consider storing and processing their data within Vietnam, necessitating the sending of a written notice to the Department of Cyber Security and Hi-Tech Crime Prevention.

3. Conclusion

In conclusion, ensuring data protection and managing compliance risks in accordance with Vietnamese law is crucial for foreign companies. By implementing cost-effective strategies, such as obtaining proper consent, conducting cross-border transfers in compliance with regulations. Also maintaining data processing impact assessments, monitoring compliance, implementing privacy by design, and having a robust data breach response plan.

For the full detail of this post, please reference on this link: http://hmlf.vn/data-protection-cost-effective-strategies-for-managing-compliances-risks-in-accordance-with-vietnamese-law/

 

Harley Miller Law Firm “HMLF”
Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.
Phone number: +84 937215585
Website: hmlf.vn
Email: [email protected]

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