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Data Privacy Risk (What ING is doing? (Storage (The ING private cloud is…
Data Privacy Risk
What ING is doing?
Storage
The ING private cloud is another enabler. It went live in 2016, starting in the Netherlands, and provides a single global platform on which we can standardise and automate our infrastructure.
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Regulations
APAC
The Australian Privacy Act was recently amended to include mandatory data breach noti cation provisions that requires certain entities to notify individuals and the regulator of ‘eligible’ breaches, i.e. those that pose a serious harm to an individual or individuals. 76
The Personal Data Protection Act 80 of Singapore provides for a Do Not Call Registry wherein consumers can apply to the Commission in the manner prescribed to opt out of receiving marketing material over the phone from organizations. The government also announced the Data Protection Trustmark Scheme (DPTM) in July 2018 following the theft of the personal data of 1.5 million SingHealth patients.
EU
European Union (EU) General Data Protection Regulation (GDPR) take e ect in May 2018, providing two years of adoption. GDPR replaced the EU Data Protection Directive of 1995 and
is the rst and most globally publicized move to safeguard consumer privacy rights. As such, it may be indicative of
what is to come elsewhere. The GDPR regulates the processing by an individual, a company, or an organization of personal data relating to individuals in the EU
US
In the United States, California enacted the California Consumer Privacy Act of 2018 (CCPA), a significant legislation that greatly expands data subject rights and introduces provisions for civil class action lawsuits based on statutory or actual damages.
The law takes e ect in July 2020.
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Cloud Systems
Cloud Deployment Models
Public clouds
The cloud infrastructure is made available to the general public or a large industry group and is owned by an organization that sells cloud services.
Hybrid clouds
The cloud infrastructure is composed of two or more clouds (private or public) that remain unique entities but are linked in order to provide services.
Private clouds
The cloud infrastructure is operated solely for a specific company. It may be managed by the company or a third party and may exist on or off the premises. This is the most secure of all cloud options.
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Challenges
As banks use alternative data (biometric information, for example) and new technologies (like AI), privacy is expected to grow more complex.
More data sharing, especially with payment comapnies and other fintechs
Definition
Risks associated with the collection, use and management of an agency’s personal information holdings.
Data
Emerging innovations allow financial institutions to access new data sets, such as social data, that enable new ways of understanding customers and markets
Deliverables
PPT
Slide 1:
- Data and Issues today
- Regulations
- Challanges
Slide 2:
- What ING is doing? (Figure with data trasnfer structure)
- How they are exposed to those risks? (will be shown in the same figure)
- Competitiors
- Recommandations
Executive Summary
Definition and Data
Regulations
Challanges
What ING is doing and how they are exposed?
Competititors
Recommandations