Training Tool for Data Privacy

In simple terms, the Smart Campaign’s Client Protection Principle 6 affirms that clients share very important personal and financial information with FIs and that it is the responsibility of FIs to protect the privacy and confidentiality of such data. If a financial instution has to share the client data with outside agencies, it should seek necessary approval from the client before sharing the data. This tool illustrates what could go wrong if proper policies and procedures for protecting the privacy of client data are either not implemented or not followed.

Data privacy is often neglected by many financial institutions. Experiences from detailed client protection assessments and interactions with FIs during CPP trainings show that FIs have scored lowest on the Data Privacy principle. In general, FIs have inadequate policies and practices around this principle. Most of the time, institutions do not quite understand the relevance of the principle and also do not know how to train staff or clients in order to ensure client data privacy.

This tool can be used by financial institutions…

  • As part of their training materials to instruct staff on the importance of maintaining data privacy.
  • In order to futher adapt the case studies to educate their clients.

Each of the case studies presented in this tool are based on the experiences of actual Indian FIs, who have suffered from weaknesses in their data privacy practices or have faced real threats due to privacy concerns. Though the names of the FIs and clients are fictional, the case studies highlight real issues.

Download the Tool (English) »

Training Tool on Data Privacy