Helen Dixon: Constant need to balance privacy protection and security

11:01 - 11 October 2024

Financial Services

The role of the data protection officer (DPO) in the Compliance sector is complex and full of challenges, according to Helen Dixon, former Data Protection Commissioner and current Commissioner for Communications Regulation (ComReg) in Ireland.

Addressing the 10th International Compliance Forum taking place in Nicosia and presented by Bank of Cyprus, Dixon spoke of an ongoing need to carefully balance privacy, data protection and security but also the complexity of the Compliance profession.

She also focused on the complexity of the DPO’s role, the challenges of a risk-based approach, the need for adaptive responses, while offering the audience practical compliance guidance.

She provided practical examples, such as anti-money laundering efforts and fraud detection measures, while stressing the importance of proportionality in their application.

When it comes to compliance in the banking system, Dixon said that when creating their digital services on a platform, they were required to follow specific legal procedures for the protection of personal data.

She referred to the example of a bank that omitted to comply with the procedures in matters outside of the platform they created, which resulted in some hefty legal consequences.

Concluding, she drew the banks’ attention to the fact that they must always follow the compliance rules when using AI, particularly when it comes to the users’ personal data.

Helen Dixon: Constant need to balance privacy protection and security

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