Personal Data Protection

Definition

Personal Data Protection. In the context of the Financial Competence Framework, Personal Data Protection is a topic in the Financial Landscape subject matter domain.

Competences

Mastering the role of Personal Data Protection in financial literacy context requires the following competences:

Code	Competency Description	Competency Type
421	Understands that consumers of financial services enjoy rights with respect to their personal data and that they have discretionary control over it	Knowledge
422	Aware of the existence of national authorities in charge of data protection and of their role in a financial context	Knowledge
423	Aware of the security implications on personal data of storing financial documents online	Knowledge
424	Understands that financial service providers and companies may store personal information: - To personalize offers based on the customer's stored profile, which is used to infer the customer's price sensitivity, product preferences and relevant behavior (e.g. in the context of telematics insurance) ; - To track certain relevant actions and behaviour of customers during the contract period (e.g. loan repayment history, driving behaviour based on telematics in the context of car insurance)	Knowledge
425	Understands the (financial) consequences and risks of sharing or disclosing personal data (including identification numbers, account information, or other identifying information such as address, birth date or government-issued numbers) whether digitally or through other channels	Knowledge
426	Able to protect personal data online	Skill
427	Assesses personal data requests by financial service providers to decide whether it is relevant to provide such information	Skill
428	Appropriately manage one’s own digital footprint in a financial context, to the extent possible	Skill
429	Avoid engaging in risky behaviours involving one’s own personal data in a financial context	Skill
430	Confident to revoke authorisations to access, use, or store personal data from financial service providers and companies when necessary	Attitude