Page 97 - ITU-T Focus Group Digital Financial Services – Recommendations
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ITU-T Focus Group Digital Financial Services
Recommendations
information could implicate both authorities, making it all the more important that agencies coordinate their
efforts.
Finally, based on these efforts, regulators and policymakers (to the extent legislative action is needed) can move
progressively to develop a plan to ensure that DFS consumers have reasonable data protection. This can be
accomplished in several ways, including calls for new legislation, issuance of new regulations, interpretations
of law and regulatory guidance, and through encouraging voluntary industry efforts. Some jurisdictions
are adopting comprehensive data protection laws and establishing commissions to implement them, such
as Ghana; others, such as Uganda, are considering similar moves. These efforts could be undertaken in
conjunction with industry self-regulatory initiatives and consumer education, so there is a balanced approach
that benefits all DFS participants.
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