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Ex-Financial Authority Chief Urges Caution on Violation Judgments
The article highlights the warnings of the former Chairman of the General Authority for Financial Control regarding the importance of avoiding haste in making judgments about violations by financing companies. It emphasizes that regulatory authorities conducting inspections are the most capable of determining appropriate measures, and that making decisions such as completely suspending activity could cause greater harm than benefit. It also clarifies that misuse of data in lending processes poses an even greater risk, especially when loans are issued based on individuals' information without their consent, which places greater responsibility on companies given that they operate under licensing and oversight. The article calls for increased community awareness about the importance of protecting personal data.
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