The Office of the Australian Information Commissioner (OAIC) is consulting on the development of a Children’s Online Privacy Code.

If a financial service provider is concerned with the activities of children through banking or credit products or advice, it could be affected by the Code.

The Privacy Act defines “child”as “an individual who has not reached 18 years”.

The Children’s Online Privacy Code requires entities affected by the Australian Privacy Principles to be bound by the Code to adopt best practice approaches to the handling of children’s personal information.

Marketing to children, which includes social media, must be “age appropriate”.

In relation to banks, the Explanatory Statement of the draft notes:

“the Code applies to specific services provided by an entity, rather than all the services of an entity as a whole.

For example, an entity may offer a singular service that is likely to be accessed by children (such as a pocket money app offered by a bank), while its other services are not (for example, that bank’s business banking and home loan apps). In that case, only the relevant service is captured, ensuring that other services which the entity provides that are not likely to be accessed by children or primarily concerned with the activities of children are not unintentionally brought within scope.”

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Author: David Jacobson
Principal, Bright Corporate Law
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The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.