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Your financial secrets are headed overseas
MSN Money ^ | 1/31/2005 | Liz Pulliam Weston

Posted on 01/31/2005 3:15:35 PM PST by Willie Green

More credit, mortgage and tax files are being handled abroad.
Nothing suggests your data are more vulnerable --
but an identity thief 10,000 miles away is virtually untouchable.

Your best friend may not know how much you made last year or whether you've been late with a credit-card payment -- but an office worker in India might.

Tax returns, mortgage applications, even credit-bureau files are among the sensitive financial data that cost-conscious American firms are quietly shipping overseas. Consider:


(Excerpt) Read more at moneycentral.msn.com ...


TOPICS: Business/Economy; Culture/Society; Foreign Affairs
KEYWORDS: china; datasecurity; globalism; outsourcing; privacy; thebusheconomy

1 posted on 01/31/2005 3:15:35 PM PST by Willie Green
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To: Willie Green

My 90 year old dad had $60K stolen from his bank account, in small wire transfers. The bank had India outsourcing, the source of the trouble. He got it all back, but it was an enormous hassle.


2 posted on 01/31/2005 3:18:53 PM PST by FormerACLUmember (Honoring Saint Jude's assistance every day.)
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To: Willie Green

It ought to be illegal for AMerican companies to send any private data about people -- financial records, medical records, etc -- outside the jurisdiction of the US legal system.


3 posted on 01/31/2005 3:21:42 PM PST by omega4412
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To: Willie Green

This must stop. I blame the Congress for not addressing this. That is what we hire them for. You notice I didn't say elect. They are hired and paid just as any employee. If they don't do the job, then they should be fired (we call it recall). We can no longer be partisan, but must change our thinking. We are is dangerous times.


4 posted on 01/31/2005 3:23:09 PM PST by Logical me (Oh, well!!!)
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To: omega4412

Why restrict capitalism? Just make a law saying that if you ID is stolen or money, etc., the company has to pay to make you whole. Alternatively, don't do business with comapnies that send info overseas.


5 posted on 01/31/2005 3:43:05 PM PST by OneTimeLurker
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To: omega4412

Exactly. Alternatively, any company that you do business with should be made to inform you that they intend on sending your sensitive data overseas.


6 posted on 01/31/2005 3:44:50 PM PST by Texas_Jarhead (I believe in American Exceptionalism! Do you?)
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To: omega4412

It ought to be illegal for AMerican companies to send any private data about people -- financial records, medical records, etc -- outside the jurisdiction of the US legal system.

So, we should write our Congress Critters and tell them to write this law and pass it!


7 posted on 01/31/2005 3:59:37 PM PST by BushisTheMan
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To: OneTimeLurker
Why restrict capitalism?

Because capitalism assumes a common system of law.

Just make a law saying that if you ID is stolen or money, etc., the company has to pay to make you whole.

This assumes that money can make you whole.

8 posted on 01/31/2005 4:06:14 PM PST by omega4412
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To: Willie Green

The Indian places will give you good security if you want it. They have rooms where no pencils or papers are allowed, and workers are searched when they leave.

Of course, there's an extra charge for this kind of security, so maybe your bank is too cheap to pay.....


9 posted on 01/31/2005 4:09:30 PM PST by proxy_user
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To: Willie Green

This should be illegal. Why the hell isn't the government intervening? Time to FReep reps over this.


10 posted on 01/31/2005 4:19:00 PM PST by atruelady
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To: OneTimeLurker
Alternatively, don't do business with comapnies that send info overseas.

Its to a point where that's all but impossible. We'll have to quit doing business period. Blackbird.

11 posted on 02/01/2005 2:54:27 AM PST by BlackbirdSST
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