Customer Privacy

While the integration of AI into financial services brings significant opportunities for customers, banks and regulators, the cutting-edge technology also poses its own set of challenges such as data privacy concerns.

The investigation reveals repeated use of photos of a dead woman and filming a reluctant elderly customer, disregarding his privacy.

State Bank of India (SBI) managing director Alok Kumar Choudhary on Wednesday said there is a need for micro finance institutions (MFIs) to pay attention to data privacy and cyber security as they deal with data of a large number of customers. Speaking at a conference organised by Sa-Dhan, he said, MFIs should also focus on capacity building to de...

WhatsApp has been spotted working on a secret code feature. The instant messaging app could soon allow users to choose a custom password for their locked chat folder. Users can enter the secret code to access their locked chats from the search bar of the app. Configuring a secret code will reportedly let users lock chats from companion devices as ...

Artificial intelligence leader OpenAI said on Monday it is releasing a version of ChatGPT targeted to large businesses, increasing the overlap in what OpenAI and its financial backer Microsoft offer to customers. ChatGPT Enterprise offers more security, privacy and higher-speed access.

Music streaming giant Spotify was on Tuesday fined $5.4 million (roughly Rs. 40 crore) for not properly informing users on how data it collected on them was being used, Swedish authorities said. The Swedish Authority for Privacy Protection's (IMY) said it had reviewed "how Spotify handles customers' right of access to their personal data." 

US Federal Trade Commission said in a court filing on Wednesday that Amazon's Ring doorbell camera unit spied for months on female customers in 2017 with cameras placed in bedrooms and bathrooms and announced a $5.8 million (roughly Rs. 47 crore) settlement with the company over privacy violations.

Minister of State for Electronics and IT Rajeev Chandrasekhar said on Friday that platforms in the digital space will always be held accountable to their customers by the government. Big Tech has avoided regulation all around the world "because they masqueraded as innovation", according to the MoS IT. The government is currently conducting a nation...

Retailers cannot insist on customer numbers for providing certain services, the government said on Tuesday. An advisory issued to retailers by the Consumer Affairs Ministry states that they cannot insist on personal contact details of customers for services.

TRAI is working on technology to detect pesky calls and messages, the telecom regulator said on Monday. It said that unsolicited commercial communication (UCC) or pesky communication was a major source of inconvenience to the public and impinges on the privacy of individuals. The regulator is also working on a joint action plan with a Joint Committ...

Australia on Saturday proposed tougher penalties for companies that fail to protect customers’ personal data after two major cybersecurity breaches left millions vulnerable to criminals. The penalties for serious breaches of the Privacy Act would increase from AUD 2.2 million (nearly Rs. 11 crore) now to AUD 50 million (nearly Rs....

Australia has proposed tougher penalties for corporates that do not preserve the privacy of their customers. The country's decision comes weeks after two major cybersecurity incidents affected millions of citizens, and penalties for series breaches of the Privacy Act could increase from AUD 2.2 million (roughly Rs. 11 crore) to AUD 50 million (roug...

The Indian Railways is said to be considering the withdrawal of a tender issued for the appointment of a consultant to monetise its passenger and freight customer data. The IRCTC aims to generate revenue up to Rs 1,000 crore by monetising the data, but the tender could be withdrawn over privacy concerns.

The Railways has floated a tender to hire a consultant to monetise its passenger and freight customer data with the aim to generate revenue up to Rs 1,000 crore, but sources said it may be withdrawn amid concerns over privacy issues.

The IRCTC has floated a tender as part of a project aimed at ‘digital data monetisation’, according to the public sector undertaking, which is looking to hire a consultant to monetise data from the railway’s passenger, freight, parcel, catering, tourism, and other operations. Meanwhile, digital liberties group Internet Freedom Foundation has ...

While the integration of AI into financial services brings significant opportunities for customers, banks and regulators, the cutting-edge technology also poses its own set of challenges such as data privacy concerns.

The investigation reveals repeated use of photos of a dead woman and filming a reluctant elderly customer, disregarding his privacy.

State Bank of India (SBI) managing director Alok Kumar Choudhary on Wednesday said there is a need for micro finance institutions (MFIs) to pay attention to data privacy and cyber security as they deal with data of a large number of customers. Speaking at a conference organised by Sa-Dhan, he said, MFIs should also focus on capacity building to de...

WhatsApp has been spotted working on a secret code feature. The instant messaging app could soon allow users to choose a custom password for their locked chat folder. Users can enter the secret code to access their locked chats from the search bar of the app. Configuring a secret code will reportedly let users lock chats from companion devices as ...

Artificial intelligence leader OpenAI said on Monday it is releasing a version of ChatGPT targeted to large businesses, increasing the overlap in what OpenAI and its financial backer Microsoft offer to customers. ChatGPT Enterprise offers more security, privacy and higher-speed access.

Music streaming giant Spotify was on Tuesday fined $5.4 million (roughly Rs. 40 crore) for not properly informing users on how data it collected on them was being used, Swedish authorities said. The Swedish Authority for Privacy Protection's (IMY) said it had reviewed "how Spotify handles customers' right of access to their personal data." 

US Federal Trade Commission said in a court filing on Wednesday that Amazon's Ring doorbell camera unit spied for months on female customers in 2017 with cameras placed in bedrooms and bathrooms and announced a $5.8 million (roughly Rs. 47 crore) settlement with the company over privacy violations.

Minister of State for Electronics and IT Rajeev Chandrasekhar said on Friday that platforms in the digital space will always be held accountable to their customers by the government. Big Tech has avoided regulation all around the world "because they masqueraded as innovation", according to the MoS IT. The government is currently conducting a nation...

Retailers cannot insist on customer numbers for providing certain services, the government said on Tuesday. An advisory issued to retailers by the Consumer Affairs Ministry states that they cannot insist on personal contact details of customers for services.

TRAI is working on technology to detect pesky calls and messages, the telecom regulator said on Monday. It said that unsolicited commercial communication (UCC) or pesky communication was a major source of inconvenience to the public and impinges on the privacy of individuals. The regulator is also working on a joint action plan with a Joint Committ...

Australia on Saturday proposed tougher penalties for companies that fail to protect customers’ personal data after two major cybersecurity breaches left millions vulnerable to criminals. The penalties for serious breaches of the Privacy Act would increase from AUD 2.2 million (nearly Rs. 11 crore) now to AUD 50 million (nearly Rs....

Australia has proposed tougher penalties for corporates that do not preserve the privacy of their customers. The country's decision comes weeks after two major cybersecurity incidents affected millions of citizens, and penalties for series breaches of the Privacy Act could increase from AUD 2.2 million (roughly Rs. 11 crore) to AUD 50 million (roug...

The Indian Railways is said to be considering the withdrawal of a tender issued for the appointment of a consultant to monetise its passenger and freight customer data. The IRCTC aims to generate revenue up to Rs 1,000 crore by monetising the data, but the tender could be withdrawn over privacy concerns.

The Railways has floated a tender to hire a consultant to monetise its passenger and freight customer data with the aim to generate revenue up to Rs 1,000 crore, but sources said it may be withdrawn amid concerns over privacy issues.

The IRCTC has floated a tender as part of a project aimed at ‘digital data monetisation’, according to the public sector undertaking, which is looking to hire a consultant to monetise data from the railway’s passenger, freight, parcel, catering, tourism, and other operations. Meanwhile, digital liberties group Internet Freedom Foundation has ...