Financial institutions in Poland are caught between European data protection laws and national on-boarding requirements, forcing some into onerous work-arounds to avoid the risk.
Under the General Data Protection Regulation (GDPR), which came into effect on May 25 this year, companies are required to operate under the principle of “data minimisation” — processing and holding the minimal amount of data necessary for the task at hand.
They are also forbidden from holding more data on customers than needed for professional purposes.
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