Compliance with the legislation on personal data is one of the most important agendas of companies recently. This is so, as the Personal Data Protection Authority conducts intense inspections and imposes penalties.
The Law on Protection of Personal Data No. 6698, which was published in 2016, imposes many obligations on companies in terms of protecting the personal data of both employees and customers.
Personal data legislation mostly concerns companies in the service sector, which have a high number of customers and deal with end users. Undoubtedly, the leading among these is the finance and banking sector with millions of customers of each company. A significant portion of the personal data breaches that come to the agenda of the Personal Data Protection Board come from this sector.
A Guide to Good Practices and Things to Do in the Banking and Finance Sector on protecting personal data has been published.
According to the guideline, the following principles must be complied with in the processing of personal data in the banking sector:
a) Compliance with the law and honesty rules.
b) Being accurate and up-to-date when necessary.
c) Processing for specific, explicit and legitimate purposes.
ç) Being connected, limited and restrained with the purpose for which they are processed.
d) To be kept for as long as required by the relevant legislation or for the purpose for which they are processed.
