OAIC audit: Banking institutions have ‘good privacy practices in place’

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The Office of the Australian Information Commissioner’s first audit of privacy practices of the big four banks found the institutions handle consumer data “in an open and transparent way with good privacy practices in place.� Information and Privacy Commissioner Angelene Falk said the OAIC is proactively auditing and monitoring providers in the Consumer Data Right system “to ensure these strict privacy safeguards are being upheld, so that consumers can feel confident their data is protected.�
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