Privacy Risk Management

Privacy Risk Management is a systematic process to identify, assess, respond to, and monitor risks to individuals that may arise from the processing of personal data. According to the definition by the U.S. National Institute of Standards and Technology (NIST), its goal is to help organizations protect individual privacy rights and build customer trust while achieving their operational objectives.

Taiwan's amended Personal Data Protection Act has significantly increased penalties, with fines up to NT$15 million for severe cases where companies fail to take proper security measures to prevent data breaches. A dedicated Personal Data Protection Commission will also be established to strengthen enforcement. Furthermore, companies expanding into overseas markets must comply with international regulations like the EU's GDPR, which imposes fines of up to €20 million or 4% of global annual turnover, posing a dual threat of heavy financial penalties and loss of business.

The primary standard is **ISO/IEC 27701** (Privacy Information Management System), a privacy extension to ISO/IEC 27001 that provides requirements and guidance for establishing a PIMS. Additionally, **ISO/IEC 29134** offers guidelines for conducting a Privacy Impact Assessment (PIA). In terms of international regulations, the EU's **GDPR** Article 35 mandates a Data Protection Impact Assessment (DPIA) for high-risk processing activities, and the U.S. **NIST Privacy Framework** provides a widely adopted risk management methodology.

Winners Consulting is Taiwan's first consultancy to integrate Enterprise Risk Management (ERM), Industrial Engineering, Technology Law, and Data Science. Led by a founder with a background in preventive law, our multidisciplinary team of tech lawyers, ISO Lead Auditors, and AI experts helps companies seamlessly integrate certifications like ISO 27701 with existing corporate governance and internal controls, avoiding redundant structures. We pragmatically implement privacy protection into daily operations, as demonstrated by our services for leading semiconductor companies and their supply chains, such as TSMC and MediaTek.