InsiderBusinessKEDIPES blunder with personal data

KEDIPES blunder with personal data

Sending personal data to parliament appears to be a big blunder for the state-owned Cyprus Asset Management Company (KEDIPES) which was established following the sale of the former Cyprus Cooperative Bank to Hellenic Bank.

Even though the files listing buyers of ex Co-op’s real estate including those of politicians and MPs were marked as top confidential, the company has found itself in deep waters since disclosure  constitutes violation of personal data.

KEDIPES yesterday again called on parliament to send back the data and delete any electronic records it may have. Specifically, a third letter was sent to parliament by executive director Stavros Iacovou assuring that he would send all relevant data without disclosing  buyers’ details by the end of the day. Iacovou also requested that the information be classified as confidential.

It all started on April 4 when KEDIPES sent a bulky envelope to parliament with detailed information on 845 properties sold by Co-op Bank and KEDIPES. The data included the names of buyers, amongst them political party executives, Co-op committee members, land development companies and municipalities.

Reference was made that the law stipulates that any leakage or use of this personal data would constitute a violation. A month later, on May 6, KEDIPES sent a letter to parliament noting that the names of the buyers were sent by mistake, and appealed to political parties not to mention any names during committee sessions.


Read more:

Top Stories