Consumers want details to stay here
(26 October 2009 – Australia) Australian customers are urging the Federal Government to stop the big banks from sending their personal details to offshore processing centres.
A national poll conducted found 83 percent want banks to seek written permission from their customers allowing them to send their confidential information to overseas processing centres.
Two of the major banks and several smaller finance houses are currently using overseas processing centres to process customer information, including credit cards and mortgages.
Independent Senator, Nick Xenophon, wants the Government to embrace changes to the consumer protection legislation that is currently before parliament.
The amendments to the legislation would see banks obtaining written permission from customers before sending confidential information overseas.
Mr Xenophon said that Australians have a right to control who has access to their personal information.
Banks shouldn't be allowed to try and save a few bucks by jeopardising the privacy of millions of Australians, Mr Xenophon added.
It is thought that the practice will become more widespread as the banking sectors sheds local jobs and cuts operating costs.
The banks have insisted that customer protection was being properly observed.
Confidentiality of customer information is at the core of a successful banking operation, Australian Bankers Association, director, Nicholas Hossack, told The Courier-Mail.
Mr Hossack added, that the ABA is confident that banks will take appropriate measures to protect customer information whether some processing functions are undertaken offshore or whether they are all done in Australia.
With millions of Australians also using the internet to buy goods from overseas, the Federal Government is cautious about introducing specific consumer protection laws.
Two of the major banks and several smaller finance houses are currently using overseas processing centres to process customer information, including credit cards and mortgages.
Independent Senator, Nick Xenophon, wants the Government to embrace changes to the consumer protection legislation that is currently before parliament.
The amendments to the legislation would see banks obtaining written permission from customers before sending confidential information overseas.
Mr Xenophon said that Australians have a right to control who has access to their personal information.
Banks shouldn't be allowed to try and save a few bucks by jeopardising the privacy of millions of Australians, Mr Xenophon added.
It is thought that the practice will become more widespread as the banking sectors sheds local jobs and cuts operating costs.
The banks have insisted that customer protection was being properly observed.
Confidentiality of customer information is at the core of a successful banking operation, Australian Bankers Association, director, Nicholas Hossack, told The Courier-Mail.
Mr Hossack added, that the ABA is confident that banks will take appropriate measures to protect customer information whether some processing functions are undertaken offshore or whether they are all done in Australia.
With millions of Australians also using the internet to buy goods from overseas, the Federal Government is cautious about introducing specific consumer protection laws.
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