April 27th, 2009

Device identification in online banking is privacy threat?

By Elinor Mills, ZDNet

A widely used technology to authenticate users when they log in for online banking may help reduce fraud, but it does so at the expense of consumer privacy, a civil liberties attorney said during a panel at the RSA security conference last week...

Even though none of the information gathered during a log-in is personally identifiable, the bank shouldn't have to collect regular data on when, how often and from where a consumer accesses a bank account, said Jennifer Granick of the Electronic Frontier Foundation. Such information can be compiled with other more sensitive information to create profiles and cross referenced to learn more about consumers, she said.

Related Issues: Privacy

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