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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.

    Top Stories

    Companies face identity verification challenges with data deletion requests under GDPR

    Companies face identity verification challenges with data deletion requests under GDPR

    Published by Gbaf News

    Posted on May 26, 2018

    Featured image for article about Top Stories

    As GDPR comes into force today, organisations will be faced with the potentially crippling effect of data deletion requests.

    According to a recent survey, a third of Britons are likely to exercise their right to be forgotten under GDPR due to concerns about privacy and data protection.[1]

    The first step that customers will take in their right to be forgotten is the submission of a Subject Access Request (SAR). Companies must ensure that they can verify the identities of individuals who are requesting personal information.

    In order to effectively verify individuals, companies should consider using multiple identity verification methods, including identity data, mobile, biometrics, and document verification, says Identity Verification expert Trulioo.

    “When a customer says “forget me” to a business, challenges around identity verification loom. But having effective procedures in place in order to verify the identity of individuals who submit SARs is not the only thing to consider”, says Trulioo’s General Manager Zac Cohen.

    “It is also important to educate individuals about the possible impact of deletion requests, as many don’t anticipate the impact of their history being wiped. People deserve to know that this potentially prevents them from having access to services because they will no longer be identifiable. Also, as companies no longer have a record of their regular behaviour, fraudulent behaviour becomes harder to detect.”

    As GDPR comes into force today, organisations will be faced with the potentially crippling effect of data deletion requests.

    According to a recent survey, a third of Britons are likely to exercise their right to be forgotten under GDPR due to concerns about privacy and data protection.[1]

    The first step that customers will take in their right to be forgotten is the submission of a Subject Access Request (SAR). Companies must ensure that they can verify the identities of individuals who are requesting personal information.

    In order to effectively verify individuals, companies should consider using multiple identity verification methods, including identity data, mobile, biometrics, and document verification, says Identity Verification expert Trulioo.

    “When a customer says “forget me” to a business, challenges around identity verification loom. But having effective procedures in place in order to verify the identity of individuals who submit SARs is not the only thing to consider”, says Trulioo’s General Manager Zac Cohen.

    “It is also important to educate individuals about the possible impact of deletion requests, as many don’t anticipate the impact of their history being wiped. People deserve to know that this potentially prevents them from having access to services because they will no longer be identifiable. Also, as companies no longer have a record of their regular behaviour, fraudulent behaviour becomes harder to detect.”

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