Applications for new Public Interest Determinations regarding international money transfers

16 December 2019

On 2 December 2019 the OAIC received an application to issue a Public Interest Determination (PID) under section 72 of the Privacy Act, from the Reserve Bank of Australia (RBA).

On 5 December 2019 the OAIC received an application to issue a similar PID from Australia and New Zealand Banking Group Limited (ANZ).

These PID applications are intended to replace the current PIDs in relation to the RBA and ANZ (as well as a Generalising Determination in relation to authorised deposit-taking institutions) which expire on 25 February 2020.

Due to the limited time available from the date of receipt of applications in early December to sunsetting on 25 February 2020, both the RBA and ANZ have included a request for a Temporary Public Interest Determination (TPID) in the event that a PID is unable to be registered before 25 February 2020.

The applications for PIDs from both the RBA and ANZ are substantially similar to those received previously from the RBA and ANZ in 2014.

The applications concern the cross-border disclosure of personal information in relation to the processing of IMTs. The RBA and ANZ propose to disclose the personal information of individuals who are beneficiaries of an IMT to overseas financial institutions, for the purposes of processing the IMT.

We invite submissions on the applications.  We have published a consultation paper (including draft Determinations) to assist interested parties in providing comments as part of the Commissioner’s consideration of the applications. The closing date for comment is close of business Friday 31 January 2020.

Please see the consultation page for more information about making a submission.