September 06, 2006
Privacy Concerns in Outsourcing
Last month, I had written an interesting post titled "Data Security Tightened in India" that spoke about data security in India. Today, it's the turn of privacy concerns. Privacy concerns have been raised by the financial service companies while sending customer data to foreign countries.
Financial customers may not opt out of these information transfers to non-affiliated service providers if the transfer is for purpose described in section 502(e) of the Gramm-Leach-Bliley Act (GLBA). The opportunity to opt out does not apply where the information transfer is to service or process a financial product or service that the customer requested or authorized.
The GLBA does provide important protections that cover both domestic and offshore outsourcing. GLBA established affirmative and continuing obligations for financial institutions to respect customer privacy and protect customer personal information against threats to its security, confidentiality and integrity.
--
Did you enjoy this post?
Comments
The comments to this entry are closed.
Recent Comments