Bank Looks Into "Creative" Debt Collection Efforts
SOCIAL NETWORKING—AUSTRALIA & NEW ZEALANDMay 28, 2010
The Australia and New Zealand Banking Group is investigating employees' use of a social networking site to track down debtors, International Business Times reports. Bank debt collection staff created a false Facebook profile to learn more about those with outstanding personal loans and credit cards, the report states. "Our initial analysis suggests we are dealing with some grossly misplaced staff creativity rather than a venture which has produced any particular debt-collection outcomes," said bank spokesman Stephen Ries. An Electronic Frontiers Australia spokesperson said the actions constitute a breach of the Federal Privacy Act.