Galexia

Submission - Joint submission to the 2007 Review of the Electronic Funds Transfer (EFT) Code of Conduct to ASIC (May 2007)

Q55 – Should the provisions about privacy under cl 21 be modified and/or extended to cover other areas or issues?

Consumer stakeholders support the continued inclusion of privacy provisions in the EFT Code. Generic privacy legislation in Australia remains weak and subject to numerous exemptions. Privacy complaints mechanisms are also slower and more cumbersome than external dispute resolution options available in the financial services sector.

This Review presents an opportunity to strengthen, clarify and simplify the privacy provisions in the Code.