Objectives:

Upon completion of this course, participants will be able to:

• Analyze the core principles and legal requirements of major global **Data Privacy** regulations (e.g., GDPR, CCPA, and regional equivalents).
• Understand the policy rationale, operational models, and regulatory framework for **Open Banking** and data portability.
• Implement robust procedures for obtaining and managing explicit, informed **consumer consent** for data sharing and processing.
• Design and enforce internal **data governance frameworks** to ensure privacy by design, security, and lawful data handling.
• Identify and mitigate the **cybersecurity and data leakage risks** inherent in Open Banking and third-party data access.
• Understand and implement key consumer data rights, including the **right of access, rectification, and erasure** (right to be forgotten).
• Evaluate the specific regulatory challenges of data privacy in emerging areas like FinTech, Big Data, and cross-border data transfer.
• Assess the regulatory role and requirements for **Data Protection Officers (DPOs)** and mandatory breach reporting.

• Data Privacy Officers (DPOs) and Compliance Managers
• Chief Information Security Officers (CISOs) and IT/Security Professionals
• Legal Counsel specializing in Data Protection, Financial Services, and Technology Law
• Policy Makers and Regulators overseeing Data Governance and Open Banking Initiatives
• FinTech Executives and Product Managers focused on Data Strategy
• Internal Auditors and Risk Managers specializing in Information Risk
• Consumer Protection Advocates focused on Digital Rights

• Case Studies analyzing major data breaches, regulatory fines (e.g., GDPR), and their root causes.
• Group Activities on designing a consumer consent workflow for an Open Banking application.
• Discussions on the ethics of data monetization and balancing privacy with innovation.
• Individual Exercises on performing a mini-Data Protection Impact Assessment (DPIA).
• Workshop on drafting an internal policy for handling a consumer's request for data erasure.
• Review of technical standards for secure API connectivity in Open Banking.

Unit 1: Foundations of Data Privacy Law

• Overview of global and regional data protection regulations and their jurisdictional reach.
• Core principles: Lawfulness, fairness, transparency, data minimization, and accuracy.
• Defining **Personally Identifiable Information (PII)** and sensitive personal data in finance.
• Understanding the roles of **Data Controller** and **Data Processor** and their liabilities.

• The consumer's **right to access and obtain a copy** of their personal data.
• Implementing the **right to rectification** and challenge data inaccuracy.
• The **right to erasure** (right to be forgotten) and its exceptions in finance.
• Requirements for data security, breach notification, and mandatory reporting.

Unit 2: The Regulatory Framework for Open Banking

• The policy rationale for **Open Banking** and its role in promoting competition and innovation.
• Legal basis for **data portability** (e.g., GDPR, PSD2 and regional equivalents).
• Technical and security standards for **APIs (Application Programming Interfaces)** and data exchange.
• Defining the roles and licensing requirements for Account Information Service Providers (AISPs) and Payment Initiation Service Providers (PISPs).

• The high standard for **Explicit, Informed, and Granular Consent** in Open Banking.
• Designing transparent mechanisms for consent withdrawal and time-limited consent.
• Regulatory requirements for auditing and maintaining records of consumer consent.
• The ethical challenge of "consent fatigue" and designing user-friendly interfaces.

Unit 3: Data Governance and Security Risk

• Implementing **Privacy by Design and Default** principles in product development.
• Developing a comprehensive **Data Governance Framework** and internal policies.
• Assessing and mitigating the **cybersecurity risks** of third-party data access.
• The role of mandatory data protection impact assessments (DPIAs) for high-risk processing.

Unit 4: Supervision and Enforcement

• The mandate and powers of the **Data Protection Authority (DPA)** or Privacy Commissioner.
• Requirements for appointing and supporting a **Data Protection Officer (DPO)**.
• Understanding the scale of potential penalties and fines for privacy breaches.
• Case studies of major data breaches and the regulatory response and enforcement.