The ICO has found GDPR failings in the data broking industry

The ICO’s (Information Commissioner’s Office) report on credit reference agencies has major ramifications for the data broking industry.

The October 2020 report details six key findings following an investigation into Experian Limited, Equifax Limited and the relevant entities within the TransUnion group of companies (TransUnion International UK Limited and Callcredit Marketing Limited). The report forms part of a wider ongoing investigation by the ICO into the data broking industry.

The key findings relate to:

  • Transparency of the processing;
  • Article 14 of the GDPR (General Data Protection Regulation) and invisible processing;
  • Using credit reference data for limited direct marketing purposes; and
  • Appropriate lawful bases for processing.

Download the guide >

We have created a guide that explains the findings in the ICO's report, and gives advice to data brokers on how they can updated business practices in order to comply with the GDPR.

Download the guide now

We do not believe the ICO’s intention is to hinder the data broking market, but to improve data subject experience and knowledge of how their data is used.

We are ready to help

We have already helped one customer to understand how this report affects its business model and suggested workable solutions for how it can proceed with its business practices.

DQM GRC is well placed to help data brokers negotiate the ramifications of this report. We have 25 years’ experience in helping organisations harness the power of data and our consultants are well versed in handing complex compliance projects. We offer solutions to fit all company sizes and budgets.

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Get on top of GDPR compliance

We will work with you to find a GDPR-compliant way of continuing to broker data by:

  • Analysing your business model;
  • Explaining your obligations in a practical sense;
  • Finding workable solutions; and
  • Helping to make your chosen solution a reality.

Get in touch with us to find out how we can help you continue your data brokering practices while complying with the GDPR.

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