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Content type: Long Read
Introduction
Technology has driven a number of changes in the way that financial services are packaged and accessed by consumers. These changes have led to the rise of fintech, a data intensive industry that has been touted for its convenience and as an alternative to traditional financial services.
The current article looks at the use of digital loan Apps in Philippines and Kenya and contextualises the global discussions on fintech which we have been monitoring for some years. Research…
Content type: Examples
An official directive from the Pakistani provincial government of Sindh titled "COVID-19 Mobile Registration System for Needy People" describes its use of multiple databases to identify those in need of welfare funds and disburse cash to them by combining taxpayers' data from the Federal Board of Revenue, travel histories from the Federal Investigation Agency, and financial information from the State Bank of Pakistan. Recipients need to create cellphone accounts via the service provider Jazz in…
Content type: Advocacy
Privacy International welcomes this opportunity to submit comments to the FATF consultation. The draft recommendation is an improvement on existing guidance that we have reviewed.
We also welcome the calls of the FATF for accommodations that will relieve burdens upon individuals who are being excluded from the financial sector, as a result of the FATF’s prior recommendations.
PI believes that identity systems must empower people. The initial question surrounding the development of any…
Content type: News & Analysis
The global counter-terrorism agenda is driven by a group of powerful governments and industry with a vested political and economic interest in pushing for security solutions that increasingly rely on surveillance technologies at the expenses of human rights.
To facilitate the adoption of these measures, a plethora of bodies, groups and networks of governments and other interested private stakeholders develop norms, standards and ‘good practices’ which often end up becoming hard national laws…
Content type: Examples
After four years of negotiation, in 2017 Google began paying Mastercard millions of dollars for access to the latter's piles of transaction data as part of its "Stores Sales Measurement" service. Google, which claimed to have access to 70% of US credit and debit cards through partners, said that double-blind encryption prevents both partners from seeing the other's users' personally identifiable information. Mastercard said the company shares transaction trends with merchants and their service…
Content type: Examples
After an 18-month investigation involving interviews with 160 life insurance companies, in January 2019 New York Financial Services, the state's top financial regulator, announced it would allow life insurers to use data from social media and other non-traditional sources to set premium rates for its customers. Insurers will be required to demonstrate that their use of the information doesn't unfairly discriminate against specific customers. New York is the first state to issue specific…
Content type: News & Analysis
http://www.spiegel.de/international/world/how-the-nsa-spies-on-international-bank-transactions-a-922430.html*Update: The European Parliament has voted to recommend suspension of its Terrorist Finance Tracking Program (TFTP) agreement with the US. The vote in favour of suspension only highlights how the NSA’s reported activities have undermined the agreement. Negotiations should immediately commence to strengthen the privacy and redress provisions, to ensure that governments…
Content type: News & Analysis
Dear Mr Schrank,
I am writing with regard to the current controversy over the private arrangement between SWIFT and the U.S. Government that facilitates the extradition of confidential financial transaction data from SWIFT to U.S. authorities. You will be aware that Privacy International contends that this arrangement breaches privacy and data protection law, and we have lodged complaints with regulatory authorities in 38 countries.
In my many discussions with SWIFT officials over the past…
Content type: Press release
Following a series of formal complaints to regulators, the privacy watchdog organisation Privacy International has released its estimate of the volume of confidential UK financial data covertly transmitted to the US government.
Last week PI filed simultaneous complaints with Data Protection and Privacy regulators in 32 countries concerning recent revelations of secret disclosures of records from the banking giant SWIFT to US intelligence agencies (1).
This disclosure of data has been…
Content type: Long Read
On June 22-23 2006 the New York Times ran a story uncovering an international financial surveillance programme run by the Bush Administration. In essence the Bush Administration is getting access to international transfer data and storing this in databases at the Treasury Department and/or CIA for access to investigate terrorist activity.
There are a number of inconsistencies in the accounts so far:
The U.S. claims that this is a narrowly focused programme that is compliant with the law,…