ANZ Dashboard Digest

Banks Concerned with Social Media Risks

FINANCIAL PRIVACY—AUSTRALIA

January 31, 2013

In an interview with The Australian Financial Review, Denis Curran, head of technology at National Australia Bank, expressed concern over banks’ attempts to expand their services to customers via Facebook. Specifically, Curran cited the social media firm’s privacy policy and the “uncontrolled way Facebook seems to announce their changes.” In an effort to optimise the customer information available to businesses on Facebook, some Australian banks are currently testing out services that allow users to conduct their bank business on the site, the report states.
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