Expert: Banks Should Allow Opt-Out for New Technology
RFIDDecember 13, 2011
The lack of consumer choice when it comes to banks' use of near-field communication (NFC) enabled bank cards is of grave concern, according to one expert. ISACA's Richard Hollis recently visited five banks to ask for a bank card without the embedded technology--a method of wireless communication--but was refused at each, V3.co.uk reports. "The industry is not leading on the issue of privacy but just saying, 'User Beware' and carrying on with its practices, and we are still some way from the tipping point of consumers starting to ask questions about what is actually being done with their data," Hollis said at a recent conference on cyber privacy.