SINGAPORE - The Central Depository and two other organisations have been fined a total of $47,000 for breaching data privacy laws.
Tests of the new system, which captured account holders' updated addresses as well as historical addresses, did not include the scenario of a change of address in the automated generation of dividend cheque mailers. The two other organisations are the Singapore Accountancy Commission and education institute MDIS Corporation, which were fined $5,000 and $10,000 respectively for their breaches.
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