Key Compliances under Information Technology (IT) Act, 2000

Key Compliances under Information Technology (IT) Act, 2000

The Information Technology Act, 2000 was enacted by the Government of India to grant legal recognition to electronic records, digital signatures, and online transactions in order to facilitate e-commerce and digital governance. It emerged from the need to align with global practices such as the UNCITRAL Model Law on Electronic Commerce and to support India’s growing digital economy.

Key Provisions of General Data Protection Regulation (GDPR)

General Data Protection Regulation (EU) 2016/679 (GDPR) is a comprehensive regulation adopted by the European Union to govern the collection, processing, and protection of personal data of individuals within the EU and European Economic Area (EEA).

Record-Keeping and Subscriber Information Requirements for Data Centres, VPS, Cloud, and VPN Service Providers

All Data Centres, Virtual Private Server (VPS) providers, Cloud Service providers, and Virtual Private Network (VPN) service providers are mandated to maintain accurate and up-to-date records of their subscribers/customers. These records must be preserved for a minimum period of five (5) years or longer as required by applicable law, even after the cancellation or withdrawal of the subscriber’s registration.

Record-Keeping and Cybersecurity Obligations for Virtual Asset Service Providers

Virtual Asset Service Providers, Virtual Asset Exchange Providers, and Custodian Wallet Providers (as defined by the Ministry of Finance from time to time) are required to mandatorily maintain all information obtained through Know Your Customer (KYC) processes, as well as comprehensive records of all financial transactions, for a minimum period of five (5) years.

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