27 Jun 2019
Commonwealth Bank of Australia (CBA) said on Thursday it will review how it handles customer data as part of an agreement with Australia’s information commissioner after the bank admitted to losing records in the past.
The agreement follows incidents when the country’s top lender lost records of almost 20 million accounts and decided to not inform its clients.
Under the legally-binding agreement known as an enforceable undertaking, the bank will review how it deals with internal records, including how it is stored and who has access to the data, CBA said in a statement.
“We have offered this EU as a demonstration of our continued commitment to appropriately managing the privacy of customer personal information,” said Group Chief Risk Officer Nigel Williams.
By Nikhil Kurian Nainan, Reuters, 26 June 2019
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