The OAIC has received an application from the Australia and New Zealand Banking Group Ltd (ANZ) for a public interest determination in relation to the processing of international money transfers by authorised deposit-taking (ADI) institutions.
The determination sought is that, on and from 12 March 2014, a breach of Australian Privacy Principle 8, or a breach of another Australian Privacy Principle as a result of the application of section 16C(2), in relation to the processing of international money transfers (IMT) that involve cross-border disclosure of personal information of an individual who is the beneficiary of an IMT, will be taken not to contravene section 15 of the Privacy Act 1988.
Further the applicant seeks a temporary public interest determination and an associated generalising determination due to the imminence of the commencement of the Australian Privacy Principles.
The temporary generalising determination, if made, would cover other authorised deposit-taking institutions (ADIs) within the meaning of the Banking Act 1959 eg banks, credit unions or building societies.
The OAIC is considering the application.
UPDATE:
Privacy (International Money Transfers) Generalising Determination 2014 (No. 1)
This determination provides that no authorised deposit-taking institution is taken to breach section 15 of the Privacy Act in relation to certain acts and practices involved in the overseas disclosure of an individual’s personal information in the processing of an international money transfer.
Privacy (International Money Transfers) Temporary Public Interest Determination 2014 (No. 1)
This determination provides that the Australia and New Zealand Banking Group Limited is taken not to breach section 15 of the Privacy Act in relation to certain acts and practices involved in the overseas disclosure of an individual’s personal information in the processing of an international money transfer.
UPDATE March 2015: The Privacy (International Money Transfers) Generalising Determination 2015 extends the exemption to 25 February 2020.
