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Monday, 16 July 2018 09:25

ACCC says consumer data rights to be implemented soon Featured

By
ACCC chair Rod Sims. ACCC chair Rod Sims.

Australians will be able to safely share their personal data with trusted service providers once consumer data rights (CDRs) become a reality, the ACCC chair Rod Sims says.

Sims was addressing the Consumer Policy Research Centre’s Consumer Data Conference in Melbourne on Monday.

He said the consumer watchdog would have the lead role in the making of rules, consumer education and enforcement of CDRs.

“The consumer data right is essentially a data portability right,” Sims said.

“We believe it will enable consumers to actually benefit greatly from the data that businesses already hold about them.”

He cited the example of banking, the first industry to be designated under the CDR, and explained how existing customer data held by banks could benefit home-owners.

“It is often difficult and costly for borrowers to compare the offers of mortgage providers,” Sims said.

Under the CDR, “banks will make some data, such as customers’ transaction details, available to the customer or the customer’s chosen data recipient".

“Consumer data rights will reduce the cost to borrowers of discovering and comparing offers.”

Sims said privacy and security would be paramount when developing the concept of the CDR, adding that the ACCC would co-ordinate with the Office of the Australian Information Commissioner on privacy.

“Robust privacy protection and information security will be a core feature of the CDR,” he said.

The data “can only be accessed by trusted parties who have the customer’s consent to access their data.”

Sims said the ACCC had created a dedicated Consumer Data Right Branch and work was underway with a framework paper on the data rules expected for public consultation in August.

“We will also conduct consultation work with consumers and businesses,” he said.

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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