DIFC and WAIFC Data Privacy Roundtable
DIFC and WAIFC organized the first Roundtable on "How Financial Centers Around the World Can Work Together to Support Data-Enabled Sharing and Trade for Business" today.
For international financial centers (WAIFC members) with their domestic and foreign financial service providers and users, cross-border data exchange is crucial and transparent rules for it.
We discussed
- why do international financial centers bother enacting their own privacy laws,
- how do the anti-money laundering and financial crime prevention regulations work with privacy laws,
- what individuals can expect when handing over very detailed personal data, and
- how do international financial centers contribute to building good privacy practices and build a network for promoting them.
Many thanks to the DIFC team (Lori Baker, Rana Kassem, Abdul-Rahim Osman, Marium Javed), Paul Vane, and Ben Crew CIPP/E for organizing this with us, as well as our members Abu Dhabi Global Market (ADGM), Busan Finance Center, Casablanca Finance City, EDB Mauritius, Moscow IFC, and Stuttgart Financial for joining the discussion.
We plan further roundtables on this topic in the coming months. Please get in touch with us if you are interested in joining our subsequent discussion.