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​Commonwealth Bank of Australia to update privacy practices after court-enforceable undertaking

( June 27, 2019, 01:48 GMT | Official Statement) -- MLex Summary: Commonwealth Bank of Australia, one of the country's top four banks, must overhaul its privacy practises under a court-enforceable undertaking given to the country's privacy regulator. The Office of the Australian Information Commissioner, or OAIC, had launched inquiries following two data incidents at the bank, one of which involved the loss of historical bank statements for 20 million customers. The enforceable undertaking requires Commonwealth Bank, or CBA, to review its privacy policies, procedures and data-retention standards. CBA must also assess its IT services and systems to ensure it better controls access to customers’ personal information.Find the full statement attached below....

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