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GEBiz Eprocurement Security & Privacy Concerns

GEBiz eProcurement Security & Privacy ConcernsWe are currently bidding on a project in Singapore and have been asked to register with their e-Procurement portal GeBIZ. The initial registration process required that a company officer provide their passport number on the registration form. We are now being asked to provide a copy of the passport. For obvious personal privacy and security concerns, the executive is reluctant to provide this copy. Has anyone had previous experience with this organization?

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Topic Expert
Keith Perry
Title: Consulting CFO and Business Operations A..
Company: Growth Accelerator
(Consulting CFO and Business Operations Advisor, Growth Accelerator) |

Dennis,

Yes. Not unlike in banking where there is a "know your customer" mandate, or in the US where every company needs a registered agent, Singapore wants to know with whom they're dealing. Upside is that, unlike in the US, at least they're not asking for your social :-)

Singapore was very easy to deal with in this manner. In Japan it wasn't an option (at least, historically). We had to have an agent on the ground or go through a broker who took the "know your customer" risk, which was expensive. Some countries required me to get on an airplane and show up in person with my passport and register as an alien person. China, I believe, didn't require this...they just required a signed letter from the US Secretary of State (easier that it sounds).

Remember that SG doesn't have access to your corp files, etc. Given that, it doesn't seem like a particularly high bar to me for their reasonable need for assurance that they're not dealing with a boiler-room operation--even those can get "good standing" certs. That, and they have always been a treat to work with; non-complex, low overhead, one stop shopping, etc.

Cheers

KP

Dennis Milosky
Title: Senior Controller
Company: Makena Capital Management
LinkedIn Profile
(Senior Controller, Makena Capital Management) |

Keith - thank you very much for the feedback related to your experience.
Dennis

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