Consumer Data: New Law in Force

As of March 29, 2021, Law 81 on Data Protection came into force in Panama, a legal framework that requires consumers to be asked for authorization for their information to be used.

Tuesday, April 6, 2021

According to the text that regulates these practices, "... those responsible for data processing may only transfer information about them when they have the prior, informed and unequivocal consent of the owner."

The new regulation also includes the composition and creation of the Council for the Protection of Personal Data, an institution that will have the power to evaluate the cases submitted to it in order to provide its recommendations.

With this new law, the authorities will be able to sanction the natural or legal person responsible for the processing of personal data, as well as the custodian of the database, who by reason of the investigation of the complaints or denunciations presented to them and it is proven that they have infringed the rights of the holder of the personal data.

Collecting personal data in a fraudulent manner and storing or transferring personal data internationally, in violation of the provisions of the law, are considered very serious offenses according to the text of the law.

See "Law 81 on Personal Data Protection"

Martesfinanciero.com states that "... this regulation not only covers legal terms in the sense of infringement or preservation of rights, but also stipulates the minimum technical standards necessary for the correct protection and treatment of personal data in relation to the databases located in the Republic of Panama and in fact those that require or entail a cross-border treatment, as well as its exceptions."

The publication adds that "... definitely and in strict law this new regulation seeks to harmonize the protection of the fundamental rights and freedoms of those whom the law contemplates in relation to data processing activities."

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