UK Banks Need to Get it Right on Data Protection
This post was written by Cynthia O'Donoghue.
The Information Commissioner’s Office (ICO) told attendees of the British Banker’s Association conference today that they need to get it right on data protection.
Banks were reminded that data protection is not only about keeping data secure, it is about ensuring individuals remain in control of data the banks hold about them.
Two years ago the ICO was inundated with complaints about the banks’ failures to provide information about unfair bank charges, and the ICO does not want a repeat.
In light of the recent ruling about the mis-selling of payment protection insurance, the ICO will expect banks to provide customers with timely and full responses to information requests.
The ICO also announced that it has identified the financial sector as a priority area in its draft Information Rights Strategy.
