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Data is one of today's main assets. Indispensable to business planning and people's lives in society, its importance has led to the emergence of legislation around the world to protect and process it.
In Brazil, as in most countries, the recent General Law on the Protection of Personal Data (LGPD) followed the model of European regulations and provides for ten principles
In the series of articles on the subject, I analyze each of these principles applied to the credit bureau sector. In this text, I comment on the importance of data quality in guaranteeing the data subject the accuracy, clarity, relevance and up-to-dateness of their information, and I highlight what credit protection service companies have been doing to ensure the quality of this data.
As I have observed, one of the most important contributions of the LGPD is informational self-determination, which is the right of the data subject to know who knows what about them. Through it, the data subject can exercise control over the accuracy of the data collected, as well as its recipients and how it is used.
The principle of data quality therefore ensures that data subjects have access to reliable information, so that they can exercise their informational self-determination in the best possible way. In order to offer a complete and up-to-date database, which is essential in their activity, credit bureaus invest in the continuous development of technology, including information security, which leads the sector to achieve very high rates without incidents in data processing.
They are also attentive to the best international practices, taking part in and following the work carried out by world-renowned institutions such as ACCIS, an international organization that brings together 39 credit bureaus, and ALACRED (Latin American Association of Credit Bureaus).
The role of the ANPD
The LGPD came into force without the National Personal Data Protection Authority (ANPD) being up and running. Fortunately, the ANPD should start operating soon. This is because the Presidency of the Republic has approved the ANPD's regimental structure, the list of commissioned positions and positions of trust, and appointed the five members of the Board of Directors, which have already been approved by the Federal Senate.
The National Association of Credit Bureaus (ANBC) notes that the necessary initiatives are being taken for the full functioning of the ANPD, which is responsible for regulating and guiding the application of the LGPD.
In the industry's view, privacy and personal data protection issues are new disciplines in Brazil, so the ANPD's technical capacity is also relevant to the Authority's normative and structural work. As is the broad participation of all sectors of society, especially those directly affected by the new regulatory framework.
A ANPD is also essential for maintaining the balance between the protection of personal data subjects and economic and social development. Without strategic and educational guidance, the multiple interpretations of other public spheres will tend to cause legal uncertainty and thousands of lawsuits, which could be resolved in most cases by prior instructions and guidance from the competent authority.
The implementation and standardization of the issue in the country must come about in an orchestrated manner, under the coordination of the ANPD, and as a result of broad and open processes of public consultations and regulatory impact analyses, avoiding monocratic and one-off decisions.
The organized private sector suggests the regulatory debate and proposes to collaborate actively in drawing up guidelines, regulatory guidelines and educational work. Dialogue with the government and other organized sectors is and will continue to be a priority for the private sector in the search for the best results for society.
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By: Elias Sfeir President of ANBC & Member of the Climate Council of the City of São Paulo & Certified Advisor
