The Information Commissioner’s Office (ICO) has released a statement concerning banks sharing of personal data after the resignation of NatWest Group CEO Alison Rose over sharing personal banking details of former UKIP leader Nigel Farage.

The controversey began with a BBC article reporting from an ‘inside source’ that Nigel Farage’s accounts with the private bank Coutts, which NatWest owns, were closed due to insufficient funds.

Farage later inquired on who provided the personal information, which Rose later admitted to. Since Rose’s resignation, Farage has called for NatWest’s entire board to step down as they approved a statement from Rose saying she had not disclosed personal financial information.

Following the controversey, information commissioner John Edwards stated: “The banking duty of confidentiality is over a hundred years old, and it is clear that it would not permit the discussion of a customer’s personal information with the media.

“We trust banks with our money and with our personal information. Any suggestion that this trust has been betrayed will be concerning for a bank’s customers, and for regulators like myself.”

While recognising the high-profile nature of the case, the ICO says it will follow its typical protocol for complaints, which would include allowing a response from organisations before it gets involved.

Edwards also wrote to UK Finance to remind them of their responsibilities concerning data privacy, even of public figures.

“Banks need to hold a lot of information about customers, to properly run their accounts, and to uphold the law around aspects like money laundering. But data protection rules still apply,” he said.

“I have written to the banks today to remind them of their responsibilities to the public. Banks should not be holding inaccurate information, they should not be using information in a way that is unduly unexpected, and they should not be holding any more information than is necessary.

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“Even the information banks gather around politically exposed persons must follow the law. We are working with HM Treasury, who set the rules in this area, and with the Financial Conduct Authority, who oversee those rules.”

Outside of it’s sensationalists aspects, the case does show the importance of data protection rights.

“Nigel Farage’s experience shows why data protection rights remain so important. The right to require an organisation to show you the information they hold about you, known as a subject access request, is a powerful one, and is one that is open to us all.

“It brings transparency, reassurance, and it can flag where errors have been made and where the record should be corrected.”