Privacy of client data fully secured at ABN AMRO
- Detecting Financial Crime
On 20 May 2013, Equens, the transactions processor in the Netherlands, launched a new concept of offering marketing reports on the spending habits of groups of clients.
As a result of this, some clients got the impression that banks were going to sell client data to commercial parties. This is most certainly not the case. ABN AMRO considers privacy of client data to be sacred. ABN AMRO does not sell nor provide personal or individual client data or data on spending habits to third parties.
While the data in these reports is fully anonymised and Equens has indicated that it handles the data with great integrity, respecting the privacy of card holders, these plans aroused great concern. This concern was not fully eased by the fact that the data isn’t traceable. In response to this, Equens has indicated it will not be creating and supplying such reports.