TBA to announce guidelines on protection of clients' data
The Thai Bankers' Association (TBA) will issue practice guidelines for commercial banks in handling clients' personal data, following the enforcement of the personal data protection law in May next year.
The Personal Data Protection Act, B.E. 2562 (2019) regarding the collection, use, or disclosure of personal data will come into effect on May 28, 2020.
The association's president Predee Daochai has said that banks might have to adjust their working process to be in compliance with the law.
For example, he said, they need to request clients' consent and ask them to sign on the consent every time the banks want to collect, use, and disclose their personal data. Each individual client has the right to agree or reject such a request.
The association has set up a team to study the law and its possible impacts on the banks, he added.
Thakorn Piyapan, head of Krungsri Consumer Group, said banks would feel the impacts from personal data protection law and the debt collection law next year, adding that further study is needed as banks must ensure maximum protection of clients' data.
Protection of clients' data goes beyond confinement of the banks, it also covers their merchant partners.
He said that Krungsri is considering using technology to convert client data transfers between the bank and its merchant partners in the way that, if leaked, their identities will not be known.
