A Practical Guide to GDPR in Financial Services

Financial services companies have faced some of the biggest GDPR fines. This book aims to put companies in this sector on the right side of GDPR. It has been estimated that 1.1 million people work in financial services jobs in the UK. Financial services companies hold vast quantities of personal data. And given the vast resource of many of these firms, they often have the means and the technology to process personal data in a myriad of ways including: using Artificial Intelligence to build customer profiles employee monitoring customer marketing carrying out Know Your Customer Checks transferring data around the globe There are numerous GDPR issues that companies in financial services must address. This book seeks to provide companies in this sector with practical solutions on GDPR. ABOUT THE AUTHOR Patrick O’Kane is a Barrister. He is Head of Privacy at a Fortune 500 Company where he helped lead a major GDPR project across a group of more than 100 companies. Previously, he led the Privacy Team at a large group of insurance companies in London. Patrick is the author of the book ‘GDPR: Fix it Fast – How to Apply GDPR to your company in ten steps’. He has written on Privacy for numerous journals and magazines. Patrick is Certified in EU and US Privacy Regulation and was made a Fellow of Information Privacy by the International Association of Privacy Professionals in 2020. CONTENTS Chapter 1 – GDPR – The Basics Chapter 2 – International Data Transfers in financial services Chapter 3 – Risk Assessing new projects and products under GDPR Chapter 4 – Data Protection and Marketing in financial services Chapter 5 – How GDPR impacts Know Your Customer checks Chapter 6 – Using the Cloud in financial services Chapter 7 – Buying customer data Chapter 8 – Artificial Intelligence (AI) in financial services Chapter 9 – Data Security and reporting data breaches Chapter 10- Sharing data with third parties Chapter 11 – Processing employee data Chapter 12 – Further GDPR rules Chapter 13 – GDPR Rights in financial services Chapter 14 – Mergers and acquisitions and GDPR