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Protected data sharing and Life Sciences in the Asia Pacific

Protected data sharing and Life Sciences

From treatment to prevention

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Ajay Sanganeria

Head of Life Sciences; International Tax Partner

KPMG in Singapore

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Protected data sharing and Life Sciences in the Asia Pacific

In the last decade, "big data" and "data & analytics" dominated the life sciences sector, and with increasing digitization and liberation of data, the sharing of medical information will take center stage going forward. But it comes with great responsibility, particularly from a security and privacy perspective because health data is highly valued, especially by hackers.

While personal identity numbers can fetch around U$15 on the dark web, personal health records are worth upwards of U$100 each because identity theft becomes more specific to the individual. The SingHealth incident, where 1.5 million patient records were exposed, goes to show no one is safe.

How can life sciences companies prevent threats to their own data and that of partner stakeholders from derailing growth ambitions and advancements in connected care? How should they tackle the shift in mindset such that cyber security becomes an enabler of innovation, rather than an inhibitor?
 

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