Don't bank on privacy

[Dave Farber <dave () farber net>]

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Date: Mon, 19 Jan 2004 09:29:30 -0500
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From: Monty Solomon <monty () roscom com>
Subject: Don't bank on privacy

Don't bank on privacy

Most bank Web sites fall short when it comes to customer privacy,
convenience and responsiveness, a study found.

By Richard Burnett
Sentinel Staff Writer
Posted January 14, 2004

Tina Williams knows little about what her bank does with her personal
information. The privacy policy is wordy and tough to decode. She
doesn't read it when it arrives in the mail.

She also doesn't read the disclosure statements when she's banking online.

"Like most other privacy policies, it is long and boring and
confusing," said the substitute schoolteacher, who lives in Lake
Mary. "My feeling is, as long as you don't share my personal
information the wrong way, I'll trust you. Luckily, so far, I haven't
had any problem."

Online-banking customers deserve better, however, according to a new
study of banks' online operations.

Despite banks' increasing Internet savvy, too many financial
institutions still fall short when it comes to customer privacy,
convenience and responsiveness, according to a report by The Customer
Respect Group, a research and consulting firm based in Bellevue, Wash.

...

http://www.orlandosentinel.com/business/orl-bizbanksonline14011404jan14,1,7297658.story

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