EFT Code of Conduct
The Electronic Funds Transfer Code of Conduct (the EFT Code) applies to transfers of funds initiated by giving an instruction through electronic equipment using an access method (such as password, code, identification number or digital signature).
It contains guidelines to assist subscribers in interpreting the National Privacy Principles. It says:
- where surveillance devices are used to monitor transactions users should be notified of that fact and of the nature of the surveillance;
- subscribers must take reasonable steps to ensure that no equipment or system is capable of providing any information concerning an account unless the correct access method for that account has been used;
- transaction receipts should not disclose information which would reveal the full account number, name or address of the account holder; and
- if transactions can be conducted through an electronic address such as a website, clear privacy policies should be made available at that address and also provided to users by electronic communication on request.
