DeGiro, PPS and Data Protection

Blue Steel

Hi,

I was looking into opening an account with DeGiro. As part of their registration process, they are asking for my PPS number. It is a required field.

My view is that it should be optional. I don't really want to store my data, not knowing if it is encrypted or not or who can access it.

Does anyone have an opinion on this?

gordongekko

Put in a fake one.

topper_harley2

Possibly a revenue requirement with a view to following any tax dodgers. FYI PPS is required in order to buy dental insurance in Ireland also.

kirving

Could putting in a fake number be interpreted tax evasion?

newacc2015

Blue Steel wrote: »

Hi,

I was looking into opening an account with DeGiro. As part of their registration process, they are asking for my PPS number. It is a required field.

My view is that it should be optional. I don't really want to store my data, not knowing if it is encrypted or not or who can access it.

Does anyone have an opinion on this?

I imagine its a anti-money laundering requirement. Revenue is very serious about this. My Bank account was frozen recently, as I opened it before the new money laundering rules. The bank said Revenue are cracking down on financial institutions for not ensuring they have reached the anti-money laundering procedures.

Its probably revenue will get a list of names, pps numbers and money made during the year from DeGiro. Revenue are tracking all card purchases in Ireland(looking for Irish Citizens using bank credits to access funds from Tax Havens). They are even monitoring prize bonds purchases.

Would you refuse to give your bank, your PPS number out of fear of lack of encryption?

Blue Steel

I am sure revenue can do their business using other details.
With regards to handing over your PPS to other institutions, I was looking into this:

Account opening can proceed if a person does not provide their PPSN.

Source: https://www.dataprotection.ie/docs/Use-of-PPSN/1247.htm