ACCC refused CDR accreditation to iSignthis

ACCC has announced that it has rejected Consumer Data Right (CDR) accreditation to iSignthis Australia Pty Ltd (iSignthis), as it was not contented that iSignthis can obey with the obligations of an accredited data recipient under the CDR Rules.

As per the CDR, accredited data recipients can use consumers’ data with a consumer’s permission to offer them with useful products & services.

ACCC highlighted that there is a requirement of high degree of data security to join CDR. In case of iSignthis, ACCC was not satisfied, however, iSignthis verified that it can comply with the information security requirements, as per the CDR Rules

Additionally, iSignthis did not provide sign of its present insurance policies. As a result, the ACCC could not assess the adequacy of iSignthis’s insurance arrangements to manage CDR data.

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