PROCEDURE FOR HANDLING DATA PRIVACY BREACH

• The personal information controller or personal information processor shall implement policies and procedures for guidance of its data breach response team and other personnel in the event of a security incident.

• All actions taken by a personal information controller or personal information processor shall be properly documented.

• The incident response policy and procedure shall be subject to regular revision and review, at least annually.

Continue reading . . .

GUIDELINES FOR THE PREVENTION OF PERSONAL DATA BREACH

• A personal information controller or personal information processor shall constitute a data breach response team, which shall have at least one (1) member with the authority to make immediate decisions regarding critical action, if necessary.

• The security measures should be directed to ensuring the availability, integrity, and confidentiality of the personal data being processed.

• A security incident management policy shall include measures intended to prevent or minimize the occurrence of a personal data breach.

Continue reading . . .

EXCLUSIONS FROM DEPOSIT INSURANCE COVERAGE

• Unfunded, fictitious or fraudulent deposit accounts are not covered by deposit insurance

• Deposit products constituting or emanating from unsafe and unsound banking practices are not covered by deposit insurance

• Trust accounts are also not covered by deposit insurance

Continue reading . . .

Service Incentive Leave

• Service incentive leaves are five (5) leave credits with full pay.

• Not all employees may avail the service incentive leave.

• The service incentive leave shall be commutable to its money equivalent if not used or exhausted at the end of the year.

Continue reading . . .