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posted by martyb on Wednesday August 08 2018, @01:12AM   Printer-friendly
from the please-practice-pragmatic-paranoia dept.

Facebook wants banks to "share detail financial information about their customers, including card transactions and checking account balances". Summary article here, original paywalled WSJ article here, alternative link may avoid paywall.

Facebook says that "it wouldn't use bank data for ad-targeting purposes", and that they "don't have special relationships, partnerships, or contract with banks or credit-card companies to use their customers, purchase data for ads." You can just hear the missing word yet. In fact, later on the article specifically says "As part of the proposed deals, Facebook asked banks for information about where its users are shopping with their debit and credit cards".

Of course, the great mass of people will have no problem allowing Facebook into their financial lives...


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  • (Score: 1, Interesting) by Anonymous Coward on Wednesday August 08 2018, @01:40AM (2 children)

    by Anonymous Coward on Wednesday August 08 2018, @01:40AM (#718570)

    I've got to wonder if this is going to be another 'shadow profile' situation where they collect information even on non-users and the media focuses almost exclusively on the privacy of users. Because people who don't allow themselves to be used by Facebook don't exist.

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  • (Score: 4, Interesting) by Webweasel on Wednesday August 08 2018, @11:47AM (1 child)

    by Webweasel (567) on Wednesday August 08 2018, @11:47AM (#718734) Homepage Journal

    Under GDPR, these should all be deleted now.

    Not heard a word about it though.

    --
    Priyom.org Number stations, Russian Military radio. "You are a bad, bad man. Do you have any other virtues?"-Runaway1956
    • (Score: 0) by Anonymous Coward on Wednesday August 08 2018, @09:31PM

      by Anonymous Coward on Wednesday August 08 2018, @09:31PM (#719025)

      No there's a clause called "legitimate interest". I read the terms and conditions of a financial / insurance company that state that due to their "legitimate interest" in marketing and product development, they will share customer information with selected companies such as Facebook (it even mentioned their advertising platform I think) and warned that they may in turn combine that with their own data they hold on the customer. So this is companies handing over private, personal data to Facebook without any explicit prior consent. GDPR is just bringing this sort of shit out in the open. It's criminal really because marketing and product development should only ever need to deal with aggregate statistics, not data on individuals.