DATDAT-002 — Data Privacy and Protection Failures
Facial Recognition in Finance Raises Unresolved Privacy and Legal Risks
4/5Sector: FinanceGeography: GlobalStage: OperateIngested: —
Executive Summary
Facial recognition and biometric AI in financial services creates unresolved questions over data retention, ownership, and legal disclosure obligations. Boards without clear governance frameworks face regulatory exposure and liability if automated loan or identity decisions are challenged in court.
Domain
Data Management
Blindspots in data quality, privacy, bias, lineage, lifecycle, and third-party data dependencies.
Source
MIT AI Risk Repository — Managing the ethical and risk implications of rapid advances in artificial intelligence: A literature review (Meek2016) ↗https://airisk.mit.edu/
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