What does this cover?

The EDPS published an opinion this month which focuses on the challenges of Big Data. The opinion, which follows the EDPS's previous report on Digital Ethics, has been produced to address "the challenge of data protection to ‘go digital’ -the first objective of the EDPS Strategy…" and the opinion pays particular attention to the following 4 challenges posed by companies utilising Big Data technologies:

  1. Transparency;  
  2. User Control;  
  3. Data Protection by Design; and  
  4. Accountability  

The opinion describes a strategy which includes the development of an ethics advisory group; the creation of a best practice model in order to promote "honest information policies" and finally, the facilitation of a debate on Big Data which incorporates "a Big Data Protection workshop for policy makers and persons handling large volume of personal information". It is the EDPS's belief that its strategy will "increase transparency and user control", it also hoped that nurturing a Big Data discussion will assist the EDPS to "explore opportunities or personal data stores and data portability."

To view the EDPS Press release, please click here.

To view the EDPS opinion, please click here.

What action could be taken to manage risks that may arise from this development?

Financial service companies should ensure their Big Data compliance programmes adequately address:

  1. Transparency;
  2. User Control;
  3. Data Protection by Design; and
  4. Accountability.