Data protection and privacy
Experian must comply with a wide range of legislation controlling its activities including the European Data Protection Directive, the UK Data Protection Act and the US FACTA. There are designated compliance departments in the UK and in the US who ensure that all systems and processes meet the full requirements of the law and who have overall responsibility for ensuring a culture of awareness and compliance within the business. Typically, these departments will oversee and sign off all products and services and ensure controls are in place to make certain that data access is compliant with any relevant regulation or legislation. They will also normally be involved in consultation with the regulators when new rules and legislation are under consideration.
To reinforce its culture of probity and high standards, Experian has five core ‘information values’ which are built in to all its procedures concerned with the handling of personal information:
- Balance: Experian strives to balance the needs of consumers with the business needs of clients to ensure both benefit from information use.
- Accuracy: Experian strives to ensure the information it collects and maintains is as accurate and up to date as possible and that the information is appropriate for its intended use.
- Security: Experian protects the information it maintains from unauthorised access or alteration.
- Integrity: Experian complies with the spirit and letter of all applicable laws and industry codes and operates its businesses in accordance with these information values.
- Communication: Experian communicates openly about the information it maintains, how it is used and seeks to inform consumers of their rights regarding the use of information.
Data protection and other privacy and/or data-relevant legislation are the subjects of constant review and amendment in many countries where Experian does business. To ensure full compliance both today and in the future, Experian must therefore anticipate and prepare for these changes. All the Experian businesses therefore spend time reviewing and commenting on planned future legislation and are often able to make constructive input to the development process. Experian works in the UK with the FSA, the Information Commission, the Department for Trade and Industry, the Department for Constitutional Affairs, with the European Commission and in the US with senators and congressmen and the Federal Trade Commission. In many cases these bodies approach Experian directly to request input whilst in other cases Experian’s involvement is via a public or formal body such as a working group. Much of Experian’s comment is published as part of a formal consultation. In all cases Experian will seek to support a fair and reasonable outcome, balancing the need of industry for access to information and the natural concern of regulators and consumer representatives that the data should used in appropriate ways.