ACCC wants Aussies to share data for their own benefit

Personal data portability will help Aussies get better deals, says ACCC

ACCC wants Aussies to share data for their own benefit

On the same day this week that Australians faced the new reality of their medical records going ‘live’ online, the competition watchdog said it wanted consumers to be able to share their other personal data more widely.

The Australian Competition and Consumer Commission (ACCC) is charged with turning the notion of a ‘consumer data right’ (CDR) into a viable instrument, following the Government announcement of the concept last November.

The watchdog will publish a framework paper on the rules around CDR for public consultation in August.

Speaking at a Consumer Policy Research Centre conference on Monday, ACCC chairman Rod Sims said the CDR was essentially a data portability right.

“We believe it will enable consumers to actually benefit greatly from the data that businesses already hold about them,” Mr Sims said.

Banking is the first industry designated under the CDR regime and will be followed by energy and telecommunications.

Under CDR, bank customers will be able to safely share data, including transaction and product data, with trusted service providers, Mr Sims said.

“The CDR … will enable consumers to benefit from the data that businesses hold about them. For example, having portable data will allow consumers to make greater use of product or service comparison sites, and to more easily switch their supplier.”

The Government has proposed that all major banks will make data available on credit and debit card, deposit and transaction accounts by 1 July 2019, and on mortgages by 1 February 2020, the ACCC chief said.

“Data on all products recommended by the Open Banking Review will be available by 1 July 2020. All remaining banks will be required to implement Open Banking with a 12-month delay on timelines compared to the major banks,” Mr Sims said.

“International experience, especially in banking, has shown that giving consumers more control over their data increases competition as it gives consumers more scope to compare competing offers, make more informed choices and move their business.

“Data portability increases competition, particularly for more complex products and services, and creates scope for businesses to make more tailored offerings, including to innovate new or different products that better meet their needs.

“There is also a sound economic rationale for the CDR. Markets work more effectively when consumers are well informed about the price and quality of offers available to them; the costs consumers incur when switching between providers are small, and barriers to entry for new providers are low.”

The ACCC will work with the Office of the Australian Information Commissioner on privacy matters, Mr Sims said.

“Robust privacy protection and information security will be a core feature of the CDR. The data can only be accessed by trusted parties who have the customer’s consent to access their data.”

Do you feel safe having your data packaged for portability? Do you trust that hackers will not be able to access your personal information?



    To make a comment, please register or login
    Old Geezer
    19th Jul 2018
    Have recently came across a situation which I find absolutely ridiculous. Others can see what visa I have on my passport but the individual can't. Surely the Freedom of Information Act is being violated here.
    19th Jul 2018
    You could try submitting an FoI form and pay the fee:
    Old Geezer
    19th Jul 2018
    If customs can look it up why can't you yourself look up your own information? It is the principle of the whole thing that is the problem for me.
    20th Jul 2018
    The US Government is on the ball. If you can look it up so can others. The US customs is very tight. They could teach our Government about security of sites but then I expect someone here is getting paybacks. They are incredibly corrupt now. USSR back before Putin took over.

    You never hear of Goldman Sachs or the Cayman Island accounts being hacked do you?
    19th Jul 2018
    " customers will be able to safely share data"???

    Are you kidding? This from the head of the ACCC which does little to solve fraud and scams other than write back to people and give them alternative places to make submissions to in the circular responsibility shifting game.

    If you think your data is "safe" then vote Liberal and get what you deserve. The reality is your data will end up being accessible to every business which wants to use it against you. Think insurance company claims, banks, health insurance claims, etc. Blind Freddy can see the writing on the wall and Sims needs to be replaced with somebody who is capable of running the ACCC properly.
    19th Jul 2018
    The whole thing is a poison pill given a sugar coating.
    20th Jul 2018
    Absolutely shocking - coming from ACCC! They seem to have decided it is best to make all share their data, then all have only themselves to blame for all data breaches - as they gave permission for sharing!

    Must be stopped - all have to vote these clowns OUT!
    Nan Norma
    19th Jul 2018
    1984. Need I say more.
    19th Jul 2018
    past tense: horrified; past participle: horrified
    fill with horror; shock greatly.
    "they were horrified by the very idea"
    synonyms: frighten, scare, terrify, petrify, alarm, panic, terrorize, scare stiff, scare/frighten to death, fill with fear, scare someone out of their wits, scare/frighten the living daylights out of, throw into a panic, make someone's hair stand on end, make someone's blood run cold; informalscare the pants off, make someone's hair curl; informalthrow into a blue funk, put the wind up; informalscare the bejesus out of; informalspook; vulgar slangscare shitless, scare the shit out of; archaicaffright
    "she loved to horrify us with tales of ghastly happenings"
    shock, appal, outrage, scandalize, offend, dismay, throw off balance;
    disgust, revolt, repel, nauseate, sicken;
    informalrattle, faze, knock sideways, knock for six;
    19th Jul 2018
    I never had received any scam telephone calls in my lifetime, until I provided my mobile phone number to one of the comparison websites for better, "more competitive" electricity providers. Since then I have received 7 of those - Chinese pre-recorded extortion phone call scams-

    “Robust privacy protection and information security will be a core feature of the CDR. The data can only be accessed by trusted parties who have the customer’s consent to access their data.”

    -Tell this to those people who trusted the system involved using the software system PEXA (Property Exchange Australia), the nation’s new online property transfer system, to settle the home they bought. But that’s when thieves managed to hack their way in and millions of dollars have been stolen by redirecting funds to their false bank account.

    How on earth could they open a false bank account? Because the bank's customer account safety and security vigilance is negligible. The Australian authorities are clueless how to prevent these scams but worse still, they are clueless how to apprehend these criminals-

    So, the answer is No. I do not trust that hackers will not be able to access my or your personal information” and there is no way in the world that The Australian Competition and Consumer Commission (ACCC) can guarantee that “insiders” and or other hackers will not access the system with criminal intent.
    20th Jul 2018
    Exactly why a lot of us complained and wrote to our local members suggesting the sale of the Titles Office was fraught with danger. Any security is gone. It is probably necessary to have title insurance now.

    They'll want a Land tax sooner or later and will pay millions of tax dollars to access information now.

    Very shortsighted and foolish as the Titles Office made a profit of tens of millions every year so was a revenue raising asset.
    19th Jul 2018

    The ACCC is a neoliberal agent for corporations. They are masking corporate greed under a cloak of 'consumer rights'. The idea that the ACCC works for us is ludicrous. Just look around you.
    Incomes down, down, down.
    Prices up, up, up, and ever upwards.
    All under the 'protection' of the ACCC and associated pseudo public entities set up to ensure neo liberalism becomes pervasive and unchallenged.

    Trust them? Sure can't.
    19th Jul 2018
    OK so we know that information about us is all over the internet, in the cloud, on databases and in filing cabinets all over the place, but why make it easy for 'them' to connect the dots? If they want my information they are going to have to work for it!
    Old Geezer
    19th Jul 2018
    I agree most organisations know more about you than you do yourself.
    20th Jul 2018
    Except when they don't want it. My mum was part of a trial of drugs at Paddington Women's Hospital for fertility. When we wanted the records the records office mysteriously burned down.

    It will be much easier to just wipe electronic records. No need for a fire now.

    Our local Council also lost all the records in a fire. Very convenient for them as questions about how tens of millions of dollars had gone missing were being asked.

    Easier to wipe electronic records now. No need to burn council offices down.
    pedro the swift
    19th Jul 2018
    I always found those so-called "privacy policy" statements amusing. I read it as basically meaning they could share your details with nearly anyone but you couldn't get any details of what they had on you cos it was "private".
    Old Geezer
    19th Jul 2018
    Sounds about right.
    20th Jul 2018
    It's like those we are taping this phone calls. It's illegal for us to tape them. I replied I was taping for quality control too once and they hung up haha.
    19th Jul 2018
    Given the data breaches that we have seen from both government and major corporates, I cannot believe that anyone would trust either of these to share more information about private individuals and I certainly do not believe that it will remain private.

    Even if the objective is noble now, it only takes a body such as the government to decide that the information will be useful to them for the whole deal to be changed, in extreme circumstances, by legislation.

    I am an older person and these issues are not likely to affect me for much longer, but at the moment it looks like the future holds a police state, where the government knows everything about everybody.
    19th Jul 2018
    The so-called privacy laws were designed to protect business and government from the private citizen, NOT protect the citizen from business and government. That is why it is almost impossible to conduct any business on behalf of one's married partner, yet business and government can collect almost any information they want.
    The ACCC is one of those useless government departments seeking to justify its existence with this CDR bulldust. The first question to be asked about its proposals is "who benefits?" Given the amount of data already held by business and the government, it certainly won't be the consumer. The bulldust about improving services is the same old line pushed by the data miners. What the ACCC is proposing is tantamount to identity theft.
    The only consumer data right that will be acceptable and bring benefits to citizens is for each and every business and government department, including the spy agencies, to advise each and every one of us in writing, what data they hold about us. On top of that, each citizen should have the right to correct or delete that information. Unfortunately, we would have to be living in a democracy for that to happen.
    20th Jul 2018
    Yes Bill. I'm bringing to believe democracy died the day Whitlam was dismissed.
    20th Jul 2018
    Oh granny government, what big teeth you have.......all the better to tax you with my dear.

    20th Jul 2018
    There is no reason to 'share' our personal data without our express permission. We are not vassals of the State and it is high time the State took its proper place as our servant...
    20th Jul 2018
    Voters have to stop acting as obedient servants accepting all trash policies, and vote them all (current seat-warmners) OUT to send a message about who is the boss!
    20th Jul 2018
    I got an email from the accountant this morning. Lots of clients scammed by the myGov scammers.
    Luckily I never set up an account when I was told I needed it to check for my refund. I simply checked the bank statement.
    No I don't have internet banking.
    Having had to program and learn computer language back at the beginning I have no faith in systems keeping hackers out. It's too easy to get into these huge contracted sites.
    I didn't even fall into the trap with the refund for rego this year. Wasn't worth a few dollars to run the risk.
    Medicare could be a problem but I had to use a pin yesterday for the instant rebate so I hope that is secure enough.
    All other government sites ie tolls etc have only my credit card from a separate bank to where my accounts are held.
    Forewarned and forearmed and still at risk. Damn!!
    On the Ball
    20th Jul 2018
    So I will be able to compare my home loan "package" with other offerings?
    So I can actually access MY data from the electricity provider and compare my package with that of another supplier?
    Thanks ACCC.
    Lets hope that the ACCC, along with the FWO stay independent!
    20th Jul 2018
    After having read all these comments ...
    I have to say ... WHAT ARE WE GOING TO DO ABOUT IT!?
    We can all rabbit on till the mountains crumble
    Till moon turns to dust ... and finally we are all dead ...
    Make it loud and clear
    Write to your local member ... copy in all ministers.

    Have a lovely night everyone.
    21st Jul 2018

    Singapore health database hack steals personal information of 1.5 million people, including PM
    Posted about 3 hours ago

    A major cyberattack on Singapore's government health database has stolen the personal information of about 1.5 million people, including Prime Minister Lee Hsien Loong, the Government says.
    21st Jul 2018
    The "deliberate, targeted and well-planned," attack aimed at patients who visited clinics between May 2015 and July 4 this year, the Health Ministry said in a statement.

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