The Six Data Protection Principles

The GDPR updates and modifies the main responsibilities for organisations set out by the DPA.

Although all are applicable to the sale of motor finance, some are more relevant than others. The six principles are:

Principle 1

Data must be processed lawfully, fairly and in a transparent manner with the data subject’s consent. For motor finance, personal data is required to complete an application for motor finance.

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Principle 2

Data shall be collected for specified, explicit and legitimate purposes (i.e. entering into a finance contract) and not further processed in a manner that is incompatible with those purposes. When information is requested industry staff must establish whom they are talking to, and whether they are authorised to disclose that information to that party.

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Principle 3

Personal data must be adequate, relevant and limited to what is necessary. Only sufficient information should be collected for the purposes of the transaction, e.g. completing an application for finance.

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Principle 4

Personal data shall be accurate and where necessary kept up to date. Ensuring that the information collected for a transaction is accurate and continually updated and recorded.

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Principle 5

Personal data must be kept in a form which permits identification of data subjects for no longer than is necessary for the purposes of which the personal data are processed. Information that is of no use after the transaction should be securely destroyed – examples in the showroom could be proofs of address, copies of credit cards or copies of identification documents.

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Principle 6

Personal data shall be processed in a manner that ensures appropriate security of the personal data, including protection against unauthorised or unlawful processing and against accidental loss, destruction or damage, using appropriate technical or organisational measures.

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