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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Posted By Global Banking and Finance Review

    Posted on June 27, 2025

    Featured image for article about Finance

    By Hakan Ersen and Miranda Murray

    FRANKFURT (Reuters) -Germany's data protection commissioner has asked Apple and Google to remove Chinese AI startup DeepSeek from their app stores in the country due to concerns about data protection, following a similar crackdown elsewhere.

    Commissioner Meike Kamp said in a statement on Friday that she had made the request because DeepSeek illegally transfers users' personal data to China.

    The two U.S. tech giants must now review the request promptly and decide whether to block the app in Germany, she added, though her office has not set a precise timeframe.

    DeepSeek did not respond to a request for comment. Apple and Google were not immediately available for comment.

    According to its own privacy policy, DeepSeek stores numerous pieces of personal data, such as requests to its AI programme or uploaded files, on computers in China.

    "DeepSeek has not been able to provide my agency with convincing evidence that German users' data is protected in China to a level equivalent to that in the European Union," Kamp said.

    "Chinese authorities have far-reaching access rights to personal data within the sphere of influence of Chinese companies," she added.

    The commissioner said she took the decision after asking DeepSeek in May to meet the requirements for non-EU data transfers or else voluntarily withdraw its app. DeepSeek did not comply with this request, she added.

    DeepSeek shook the technology world in January with claims that it had developed an AI model to rival those from U.S. firms such as ChatGPT creator OpenAI at much lower cost.

    However, it has come under scrutiny in the United States and Europe for its data security policies.

    Italy blocked it from app stores there earlier this year, citing a lack of information on its use of personal data, while the Netherlands has banned it on government devices.

    Belgium has recommended government officials not to use DeepSeek. "Further analyses are underway to evaluate the approach to be followed," a government spokesperson said.

    In Spain, the consumer rights group OCU asked the government's data protection agency in February to investigate threats likely posed by DeepSeek, though no ban has come into force.

    U.S. lawmakers plan to introduce a bill that would ban U.S. executive agencies from using any AI models developed in China.

    Reuters exclusively reported this week that DeepSeek is aiding China's military and intelligence operations.

    (Reporting by Hakan Ersen, Miranda Murray, Charlotte van Campenhout, David Latona; Writing by Matthias Williams; Editing by Mark Potter)

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