s 70 Duty to maintain security and integrity of borrower information, etc.
70.—(1) A licensee must —(a) ensure the integrity of any borrower information it provides to the designated credit bureau; and (b) protect any information (including information in a credit report, business report, loan information report or other document) in the licensee’s possession or under the licensee’s control, that the licensee has obtained or received under or for the purposes of this Act, by making reasonable security arrangements to —(i) prevent unauthorised access to, unauthorised collection, use, disclosure, copying, modification or disposal of, or similar risks in relation to, the information; and (ii) prevent the loss, damage or compromise of any storage medium or device on which the information is stored.[Act 38 of 2023 wef 01/03/2024] (2) Any licensee who without reasonable excuse contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 6 months or to both.[30R [7/2018]