PASAY CITY, 29 May 2018 – PCEO Jaime P. Garchitorena discussed how CIC upholds the data privacy rights of the Filipinos during the 1st National Data Privacy Conference led by the National Privacy Commission (NPC) at the Philippine International Convention Center.
With the theme “Protecting the Filipino’s Right to Data Privacy,” this two-day event attended by around 2,000 Data Protection Officers (DPO) from public and private sectors is in line with the Privacy Awareness Week (PAW) - annual international awareness on privacy issues and importance of protecting personal information.
The event was headed by Privacy Commissioner and Chairman Raymund E. Liboro, with DICT Undersecretary Eliseo M. Rio, Jr., Senator Juan Edgardo M. Angara, DTI Undersecretary Ruth B. Castelo and DBM Undersecretary Lilia C. Guillermo opening the event on its first day with insightful and informative discussion on the importance of protecting the privacy rights of Filipino consumers.
Data Privacy vs. Collated Credit Information
PCEO Jaime P. Garchitorena discussed the Data Subjects’ Rights from a PIC’s Perspective: How the CIC Upholds the Data Privacy Rights of Filipinos on the second day of the event. PCEO
Garchitorena cleared that collection of credit information of CIC from financial institution does not violate the data privacy rights of the Filipino under the Philippine Data Privacy Act of 2012 (R.A. No. 10173) Section 4. e. Thus, this gives the institution the right to collect and store all credit information make it available to the public as long as it’s relevant. He assured that the data retained are governed by specific rules and design to protect the data subjects or the borrowers and the financial institutions.
Biggest Aggregator of Data in the Philippines
With more than 28,000 data collected from the financial institutions, 5.3 million data subjects in the Credit Information System (CIS) and expecting more than 25 million data by the next 18 months, PCEO Garchitorena said that CIC is the biggest aggregator of data in the Philippines which aims to have a robust and accurate system that will match and attribute all credit related exposure to the correct individuals.
He also expressed that as the central credit registry in the country, CIC has the responsibility to mandate the Data Subject (DS) to be aware of the legal obligation of the Submitting Entity (SE) to submit credit data and monitor that these SEs pass through all IT security requirements as required and established awareness by the SE that there are financial and legal penalties for the erroneous submission of data.
It is expected that the participants of 1st National Data Privacy Conference will be able to appreciate the experiences of various sectors on implementing the data privacy act especially to the rights of their data subjects.
