Following on from comments about Barclaycard, Egg and other card issuers planning to share so-called `white' data on cardholders between themselves early next year, I was intrigued to see an interview with Apacs on the issue.
According to the Silicon Web portal, Riten Gohil of Apacs, the UK banking industry body, the banks and card issuers are not happy with the level of "antiquated data protection laws" which make domestic data sharing hard.
Across borders, says Gohil, data sharing is even harder.
Excuse me? Those data sharing laws were put in place for one very good reason, namely to prevent financial institutions from sharing private data on citizens willy-nilly.
It's interesting to note that in days before data protection legislation was in place, the card issuers shared a load of data between themselves, much to the public's disgust. That why the legislation was introduced in the first place!
According to Gohil, one of the biggest challenges is that the criminals don't have human rights laws and don't have the same restrictions that the financial institutions do.
That's true, but there's no way that the criminals have access to the kinds of computers and data services that the financial services companies have. It's not a level playing field by any means...