Request for Rectification of Financial Data (2020-10-20)

Summary

This is a published case summary from the Cayman Islands Ombudsman describing an informal resolution decision under data protection complaints. It records the outcome of an individual complaint about a bank's handling of financial data and does not create new rules or ongoing obligations for regulated entities generally.

• Complaint: An individual asked a bank (as data controller) to rectify financial data she said was inaccurate, relating to a credit card debt she claimed had been fraudulently incurred by a third party and reported as such.
• Trigger: Years later, a loan application with another financial institution was rejected because of the outstanding unpaid credit card balance shown in her records.
• Outcome: The Ombudsman found the complainant could not provide evidence that the bank had waived the balance following her fraud report, so the rectification request was not supported and the case was closed.

As a closed individual case outcome, this notice is informational only; it illustrates the Ombudsman's approach to rectification requests under data protection rules but imposes no continuing compliance duties on banks or other data controllers.

Applies to

banks, data controllers