Tom Fox and Jonathan Armstrong, renowned expert in cyber security, co-host the award-winning Life with GDPR. The recent controversy surrounding Nigel Farage’s banking situation highlights the risks and compliance challenges faced by the banking industry in relation to data protection.
In this episode, Tom and Jonathan discuss the closure of Farage’s bank account with Coutts, a high-end bank owned by NatWest, and the potential data breach that ensued. They discuss the risks of internal emails being exposed through subject access requests (SARs) and emphasize the importance of caution in email communication. The conversation also explores the cost and consequences of non-compliance with GDPR obligations, particularly in relation to SARs. The potential legal implications for banks that violate their own policies or delete data that should be provided in response to a SAR are highlighted. Overall, the episode underscores the need for banks to prioritize data protection, compliance, and proper decision-making in the financial industry.
Key Takeaways:
· Nigel Farage’s Banking Controversy
· Data Protection Risks in Banking
· The Cost and Consequences of Subject Access Requests
· Serious concerns about data protection and access to banking
Resources
For more information on the issues raised in this podcast, check out the Cordery Compliance, News Section. For more information on Cordery Compliance, go their website here. Also check out the GDPR Navigator, one of the top resources for GDPR Compliance by clicking here.
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