Research On The Protection Of Personal Information Of Financial Consumers

With the rapid development of financial markets and the increasing improvement in the informationization of the financial industry,innovative financial products and financial services have been popularized and applied.The openness and sharing of data continue to deepen,and the protection of personal financial information has gradually attracted people's attention while promoting the vigorous development of the data industry.In reality,financial consumers' personal information has been repeatedly violated,and the forms of infringement are diverse and concealed,which brings serious social harm and affects the healthy and orderly development of financial markets.Many countries in the world have introduced a series of financial information protection laws,and built a basic legal system to protect the personal information of financial consumers,which plays an important role in maintaining the stability of the financial system and protecting the personal information of financial consumers.However,there are still many shortcomings in the legal protection of financial consumers' personal information in China.In the absence of basic laws for the protection of personal financial information,the existing relevant legal systems cannot effectively protect the personal information rights of financial consumers,nor can they effectively regulate the behavior of financial institutions.When personal financial information is violated,financial consumers lack effective avenues for relief.Through an examination of the legislative protection and practical experience of the United States and the European Union,the existing problems of legal protection in China is analyzed deeply.Under the background of mixed operation of Internet finance and financial,under the premise of protecting the financial consumers' personal information rights without hindering the development of market economy,this thesis discusses the historical evolution and necessity of protecting financial consumers' personal information,and systematically sort out and analyze the current protection situation,and study the extraterritorial system,and then to put forward specific implementation paths of protecting financial consumers' personal information from four aspects: improving legislation,strengthening financial institution management mechanism,balancing conflicts between information protection and sharing,and improving financial consumers' rights relief.In addition to the introduction and conclusion,the thesis consists of four parts:The first part is the necessity analysis of discussion of the concept of financial consumers' personal information and protection.The first is the definition of the concepts of several keywords in this thesis.Secondly,it sorts out the history of legal protection development of foreign and domestic personal financial information,and compare,identify that China's protection standards and levels are obviously backward.Then,it is discussed that the forms of infringement of financial consumers' personal information in recent years are diverse and harmful.Finally,an in-depth study on the need to protect the personal information of financial consumers has been conducted.The second part is to explain the current status of protection and analyze the existing problems.It is believed that the legal provisions are scattered in the legal protection of our country and the level of effectiveness is low.Driven by the lack of relevant laws,regulations and the interests,the protection of financial institutions is obviously insufficient,the internal control mechanism is not perfect,and information technology prevention measures are not in place.Under the financial mixed operation,conflicts of interest exist between financial institutions and financial consumers,and contradiction also exists between credit information sharing and information protection.In addition,the system of financial consumption disputes is incomplete and the settlement mechanism is not perfect.When personal financial information is infringed,there's no effective relief avenues for financial consumers.The third part is the study and reference of extraterritorial legislation.By studying the legislation of the United States and the European Union on the protection of personal financial information,it is believed that China should learn the advanced legislative and practical experience from the aspects of the legal system and legislative contents,financial institutions' information protection obligations,financial consumer rights,strict infringement disciplinary mechanisms and information protection relief mechanisms.The fourth part proposes the implementation path of financial information protection.First,we should improve the legislation on the protection of financial consumers' personal information,and improve the relevant legal system and legal content.Then,in view of the protection problems in the previous analysis,it is suggested that financial institutions should improve the personal information protection management mechanism and balance the conflicts between personal financial information protection and information sharing by defining the scope of sharing,clarify the rights and obligations of both sharing parties,standardizing information disclosure procedures.Finally,we should improve the non-litigation disputes settlement mechanisms,simplify the constitutional elements of civil liability of financial institutions,and implement the inversion of burden of proof to expand the channels of infringement relief.