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Rules of Conduct of the Interest Group Swiss Credit Reporting Agencies
Creditreform, CRIF, Dun & Bradstreet, and Intrum have agreed upon a set of Rules of Coduct that establish binding guidelines for the processing of personal data. This set of rules not only encompasses adherence to the provisions of the Swiss Data Protection Act (FADP) by the Credit reporting agencies but also clarifies the types of data that the agencies are allowed to store within specific timeframes. This move by the Credit reporting agencies reflects their responsiveness to public concerns regarding data processing and storage, while also affirming the significance of credit information for Swiss consumers and the Swiss economy.
Self-Regulation
Credit reporting agencies hold significant economic importance for the business sector. Without their services, large segments of the population would be practically excluded from credit transactions, such as purchasing on invoice.
Committed to self-regulation, credit reporting agencies established the industry’s first set of rules of conduct in 2020. In the Federal Council’s report ” Rechtsrahmen der Praktiken von Wirtschaftsauskunfteien” dated May 19, 2021, it acknowledges self-regulation as an effective instrument and confirms that the existing legal framework is sufficient.
Frequently Asked Questions (FAQ)
According to the Data Protection Act, every individual has the right to request self-
disclosure about themselves. Please contact the respective company for this purpose.
Yes, personal data may be processed by credit reporting agencies and shared with third parties for creditworthiness assessments. The processing is governed by the Federal Act on Data Protection.
The rules of conduct establish clear regulations for the industry based on the Data Protection Act and in line with self-regulation principles. The credit reporting agencies have voluntarily committed to adhering to the rules of conduct.
In order for a credit reporting agency to provide a self-disclosure, they must be able to clearly identify the individual in question. For this purpose, they require your name, address, and date of birth. Therefore, send a copy or scan of your official identification document (identity card, driver’s license, passport) along with your current address to the respective credit reporting agency via mail or email. Further information can also be found on the website of the relevant company. You will receive your self-disclosure via mail or email within the legally mandated timeframe of 30 days.
Contact
Schweizerischer Verband Creditreform Gen
info@creditreform.ch
www.creditreform.ch/en
CRIF AG
info.ch@crif.com
www.crif.ch/en/
Dun & Bradstreet Schweiz AG
info.ch@dnb.com
www.dnb.com/de-ch/
Intrum AG
inkasso.ch@intrum.com
www.intrum.ch
The Federal Act on Data Protection (FADP) has been in force since 1 September 2023. Many specialist articles and books have already been published. This article deals with the formula “high risk to the personality or fundamental rights of the data subject”, which appears – in full or in part – in eight places in the law.
Bisnode D&B, Creditreform, CRIF and Intrum have agreed on binding specifications for the processing of personal data in a code of conduct. The code not only covers the credit bureaus’ compliance with the provisions of the Data Protection Act (DSG), but also clarifies which types of data the credit bureaus are allowed to store and for how long. The credit bureaus are thus taking account of the public’s concerns regarding the processing and storage of data, while at the same time acknowledging the importance of creditworthiness information for Swiss consumers and the Swiss economy.
The advertisement was published in the Migros newspaper on 29.01.24 The first publication as part of the transparency initiative appeared in the Coop newspaper in December 2023.
The IA Credit Reporting Agencies consisting of Creditreform, Crif, Dun & Bradstreet and Intrum, have harmonized their rules of conduct in accordance with the new Data Protection Act (FDPA). This ensures that personal data is adequately protected. These rules of conduct serve as a framework for the activities of credit reporting agencies and are of paramount importance in ensuring a fair and transparent market. Credit reporting agencies play a crucial role by providing access to credit for a wide range of individuals.
The IG-Wirtschaftsauskunfteien inform the Swiss population about the processing of personal data and the associated rights with an advert published in the Coop newspaper.
The advertisement was published on 28 November 2023.
The community of interest of the credit agencies with Creditreform, Crif, Dun & Bradstreet and Intrum have harmonized their rules of conduct in accordance with the new Data Protection Act DSG. This ensures that personal data is adequately protected. The rules of conduct serve as a set of regulations for the activities of credit agencies and are essential for ensuring a fair and transparent market. Credit agencies play an important role by providing access to credit transactions for broad sections of the population.