Banks and insurers can share personal details to prevent fraud: AP
Banks can keep and share details of suspected fraudsters under strict conditions, according to new guidelines from the Dutch Data Protection Authority.
More than 160 financial institutions and insurers have been given permission to do this, despite strict privacy laws, in order to prevent further fraud.
‘Banks and insurers can only share these sorts of details if they have had permission and keep to the protocol,’ said head of the board Katja Mur. ‘The AP can also withdraw permission if an organisation does not keep to this protocol.’
There will, however, be no central database or black list where incidents are recorded and searchable. The data sharing will happen on a case-by-case basis.
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