GeorgiaNational Bank of Georgia rule on registration and regulation of credit information bureaus
Order of the President of the National Bank of Georgia No. 193/04 of Rule for Registration, Cancellation of Registration, and Regulation of a Credit Information Bureau, Arts. 2 to 4 and 14
In force since .
A data brokers rule binding private bodies.
- Instrument type
- a regulation made under an act
- Obligation class
- Licensing, Security
What it requires
- Operate as a credit information bureau or platform only after the National Bank of Georgia has registered the entity.
- Have an information security policy covering the confidentiality, integrity and availability of all data the bureau or platform holds, and have an external audit firm audit the information systems and technologies at least once a year.
- Submit to the National Bank's scheduled and unscheduled technical and financial audits and, when it demands, host the data server in a country that meets data security requirements.
These lines are LexLint's reading of the law's text.
What this law does
Order No. 193/04 of the President of the National Bank of Georgia defines a credit information bureau as an entrepreneurial entity that collects, stores, processes and issues credit information about a person. An entrepreneurial entity may operate as a credit information bureau or platform only after the National Bank registers it. The National Bank may require a bureau or platform to carry out scheduled and unscheduled technical and financial audits by an audit firm.
A bureau or platform must have an information security policy that covers the confidentiality, integrity and availability of all data it holds. A bureau or platform must, at least once a year, have an external audit firm or other competent organization carry out an independent audit of its information systems and technologies. The National Bank may demand that a bureau or platform move its data server out of a country that does not meet data security requirements. The Order entered into force on .
When LexLint raises it
When your app profile says your app provides financial services or processes personal data.
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