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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: 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: Long Read
The move to digital payments, without an adequate legal framework, is a double-blow to privacy. India is proving to be the case study of how not to do the move to the cashless society. We are seeing in India the deeper drives to digital: linking financial transactions to identity. On the 8th November, Prime Minister Modi of India announced that 500 and 1,000 rupee notes – 86% of the money supply – would be removed from circulation. The initial justification for this was to tackle the…
Content type: News & Analysis
In a move that echoes strong action taken in the past by European officials to protect privacy, the Belgian and Dutch data protection authorities on Wednesday announced that they will begin an investigation into the security of the SWIFT financial system.
The announcement comes on the heels of our letters to twenty-eight European DPAs last month, which sought answers regarding the NSA's reportedly unauthorized access to SWIFT's financial messaging system and asked for an…
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,…