State-run banks subject to the requirement are the Bank of Taiwan (臺灣銀行), Taiwan Cooperative Bank (合庫銀行), Mega International Commercial Bank (兆豐銀行), First Commercial Bank (第一銀行), Hua Nan Commercial Bank (華南銀行) and Chang Hwa Bank (彰化銀行). The GDPR helps clarify individuals’ rights to the personal data collected by companies around the world for targeted advertising and other purposes. It applies to all users in the EU, regardless of where the companies collecting, analyzing and using their data are located. The council has outlined plans to setup a cross-departmental platform to help Taiwan’s businesses cope with the new rule, Koo said. It is hoped that financial companies would step up and share their experience with other industries in Taiwan, he said.

Source: Taipei Times May 27, 2018 15:56 UTC