The European Banking Authority, European Securities and Markets Authority and European Insurance and Occupational Pensions Authority will have their eyes on how banks employ big data in the coming year after expressing concern regarding not only the current utilization of information and its privacy impact but also its potential “to discriminate against certain sections of the population in so-called profiling,” Reuters reports. The agencies will study the “opportunities and challenges" that come with employing big data. "The topic aims to analyze the adequacy of sectoral regulatory frameworks and identify any regulatory and/or supervisory measures which may need to be taken," the groups said in a joint statement.
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