Australian Consumer Watchdog to Oversee New Consumer Data Right
It was revealed this week that the Australian Competition and Consumer Commission (ACCC) has been put in charge of overseeing the country’s new Consumer Data Right (CDR) which seeks to give Australians ownership of their data by providing open access to information on various services transactions.
ACCC chairman Rod Sims said that while the CRR is not intended to be a “one-stop shop” for regulation and control of consumer data, it is instead something that will give consumers the right to safely access their data that is kept by business and direct how it is shared.
Sims also clarified that the CDR is not a license to share data with third parties. For example, banking customers may carry on banking the same way and choose not to participate in Open Banking.