Protections in place for Privacy

Question

A consumer, on their consent, may share payee data with a 3rd party. This involves the bank account details of persons other than themselves and these others will have no idea this data is being shared.

What consideration has been given to the privacy of these persons (i.e. the payees)?

Answer

The ACCC considers there are sufficient protections in place to protect the privacy of these persons. Rule 4.12(3) prohibits an accredited person from identifying, or compiling insights in relation to, or building a profile in relation to any identifiable person who is not the CDR consumer, unless it is for the purposes of understanding that person’s interactions with the CDR consumer and in order to deliver the requested goods or services (see rule 4.12(4)).

This factsheet contains more information about consumers' privacy rights under CDR.