Customer Privacy and Protection
With big data comes big responsibilities. Ensuring that the personal information of citizens is used to their benefit is critical to establishing modern social safety nets and is a key challenge facing 21st century policymakers.
This Briefing provides guidance to policymakers to work with financial sector regulators and implement COVID-19 social assistance payments that facilitate rapid, remote account opening in compliance with anti-money laundering and counter-financing of terrorism (AML/CFT) rules.
The consumer consent model for data privacy and protection is broken. It’s time for a new data paradigm whereby financial services providers and data collectors take greater responsibility for protecting customers’ data.
Consent forms are the backbone of data protection efforts worldwide, but there’s a problem: no one reads them. To protect people’s data, policy makers must go beyond consent.