Tag: CDR

Stronger enforcement on CDR data incoming: ACCC

Posted on   |  by Brandon How
Australia’s competition watchdog is set to increase enforcement activities against banks that feed poor data into the Consumer Data Right following consultation with data recipients. In particular, “significant shortcomings”...

Second review of $1.3bn MMI grants program on the cards

Posted on   |  by Justin Hendry
Australia’s national auditor is contemplating a review of the former Morrison government’s $1.3 billion Modern Manufacturing Initiative despite an earlier internal review commissioned by Labor clearing the grant selections....

Data quality issues holding back CDR scheme: report

Posted on   |  by Brandon How
A more deliberate effort to maintain good data quality in the Consumer Data Right (CDR) scheme must be taken to increase participation and present a viable alternative to screen...

ACCC issues first fine for alleged CDR breach

Posted on   |  by Brandon How
The competition watchdog has issued its first infringement notice for an alleged breach of the Consumer Data Right to the Bank of Queensland. The Australian Competition and Consumer Commission...

Efficiency of Open Banking system improving

Posted on   |  by Brandon How
A report from FinTech firm Frollo has revealed an improvement in data sharing through Australia’s Open Banking system. Frollo operates an Open Banking platform that facilitates the transfer of...

CDR benefits will be worth the five-year wait: Hume

Posted on   |  by Joseph Brookes
Consumers will begin to see benefits of Australia’s data portability by next year after a half-decade “build phase”, according to Minister for Financial Services and the Digital Economy Jane...

Data breaches on the rise in second half of 2021

Posted on   |  by Brandon How
There was an uptick in data breaches in the second half of 2021 but an overall drop compared to the previous year, according to the privacy watchdog’s end of...