Financial Services Can Do More to Protect Kids' Privacy, UK Information Office Says
The financial services sector can do better when handling children's data, the U.K. Information Commissioner's Office said Tuesday. As such, it published a review of how companies collect children's data when supplying them with checking and savings accounts, prepaid cards and other products.
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The review noted good practices along with areas where financial services organizations need improvement, such as in governance, transparency and consent, the watchdog said.
Examples include the need to revisit privacy information as children age and their understanding increases, offering specific staff training on children's data protection, and making a greater distinction between parents and children when conducting marketing, the office said.