Data Protection in the Financial Services Industry
Privacy and data protection are now important issues for companies across the financial services industry. Financial records are amongst the most sensitive for many consumers and the regulator is keen to promote good data handling practices in an industry that is looking towards increased customer profiling, for both risk management and opportunity spotting. Mandy Webster's Data Protection in the Financial Services Industry explains how to manage privacy and data protection issues throughout the customer cycle; from making contact to seeking additional business from current customers. She also looks at the precise role of the Financial Services Authority and its response to compliance or non-compliance. Each of the Eight Principles of the Data Protection Act are reviewed and explained.
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adequacy administration advertiser apply appropriate assessment authorised behalf breach building society Chapter circumstances client compliance comply conditions for fair credit reference agencies damage or distress data controller data processor Data Protection Act data protection law data protection principle Data Protection Registrar data subject database direct marketing disclosed disclosure of personal EC Directive employee ensure example exemption explicit consent fair processing Financial Services Authority genetic test identify individual Information Commissioner Information Commissioner's Information Commissioner's Office intermediary involved issues money laundering notification obtained organisation outsource personal data processing personal data relating procedures process personal data process personal information processing activity processing of personal processing of sensitive product provider prospective Protection Act 1998 records registered Regulations regulatory relevant filing system security measures service provider seventh principle specific staff subject access request subject rights third party transfer of personal unauthorised