XYZ is a successful startup that acquired a respectable size & scale of operations in last 3 years, handling business process services for small & medium scale enterprises, largely in US & Europe. They are at the stage of closing a deal with a new banking client and working out the details of privacy related obligations in contract.
Ensuring effective enforcement of which of the below listed privacy principles is client’s accountability, even after outsourcing its loan approval process to XYZ?
I. Notice
II. Choice and Consent
III. Collection Limitation
IV. Use Limitation
V. Access and Correction
VI. Security
VII. Disclosure to third Party
Please select the correct set of principles from below listed options:
A . None of the above, since they are outsourcing the work to XYZ who will carry the liability going forward
B . All except V and VI
C . All except III
D . All of the above listed privacy principles
Answer: C