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Law Would Give Banks Access to Validation System


April 12, 2010

New Zealand's government will introduce legislation this year to allow private sector access to its data validation service, reports the New Zealand Herald. The law would let financial institutions validate individuals' identities by cross-checking them with information on the Interior Ministry's site, which includes citizens' personal details but not those of a sensitive nature, according to Internal Affairs Minister Nathan Guy. Giving banks access to the system is expected to help them comply with certain laws and track terrorism financing, the report states. Privacy Commissioner Marie Shroff said, "So far we are satisfied that it appears to be on the right track, and we will be keeping closely involved with its development."
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