Facebook wants your banking information and financial data, would you trust them?

in life •  4 months ago

Facebook has asked large US banks to share financial information about their customers, including data on credit card transactions and current account balances, as part of the social network's efforts to offer new services to its users.

The social networking giant contacted entities such as JPMorgan Chase, Wells Fargo, Citigroup and US Bancorp to discuss potential offers for customers of the entities available through Facebook Messenger, although one of the large banks contacted would have withdrawn from the conversations due to concerns about privacy .

"Facebook has talked about a feature that would allow users to check the balance of their accounts"

The social network would have indicated to the entities that this information about the clients could be used to offer services that would lead them to spend more time using Messenger and would have assured that they would not use the data for advertising purposes or to share them with third parties.

"We do not use purchasing data from banks or credit card companies for advertising," Facebook, does not have special relationships, or partnerships or contracts with banks or credit card companies to use their customers' data for advertising purposes.

Once you have questioned the ability to secure user information and have been sued, would you trust the Facebook company to provide all the details of your banking information? tell us here ... I will value each comment and give a reward for it.

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The reality in today's time is privacy is lacking for those who use social media. Whether it isn't just for personal reasons there is no avoiding private information from being held. I mean just the other day I learned Bank of America can send money to any person that has an email address link to their bank account. Email address only! The thought of how easily accessible with information makes me doubtful that even if I say no there is still a huge chance FB will still get it.

I agree that the level of interference by companies like Facebook, Google etc. is increasing by manifolds. There shall be strict laws to prevent such level of data collection.

I do not use Facebook because of privacy concerns, so of course I will not trust them to keep my bank information.

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I don't think there are many people who would trust facebook when it comes to privacy and data protection. Especially when it comes to banking information. And i can check my bank account at the banks website or app so I don't need facebook for that.
And even if it wouldn't be facebook, I try to keep my banking information as private as possible. So i don't want to share with too many others.
And even if they tell us they won't use the banking information for advertising I don't believe them. Facebook is always looking for new ways to make money.

Looks like Facebook request for sensitive information is the theme to talk today. I also just made a post about that: https://steemit.com/information/@diogosantos/facebook-asked-banks-for-financial-information-from-customers

I understand what they are trying to do, the reality is that people enjoy privacy (in their minds), but in reality they don´t mind losing that in exchange of a some easy ways to do things.

Definitely do not trust them with my info, really sure they will 'sell' your info to third party for marketing purposes. And I am also sure that the tax office will be snooping into the info as well.

No i donot trust facebook.

I do not agree, because of the experiences received, there is always leakage of information, if even the personal data in the banks are confidential, there are thousands of scams much less in case such as Facebook, which always exist cyber pirates, who They steal all information for purposes of scams. In addition always negotiate the privacy of users, especially the tax department. @ jmhb85

Trust Facebook with my banking information? You gotta be kidding me! No way!

Nice write-up


Of course I do not trust them. and now less since I know how much money they earn for our subscriptions

And to use your platform, I see it difficult for that to happen however everything is possible

No estoy de acuerdo, seria una violación a la privacidad de los clientes