The social network will forbid to banks to gather information to find customers


Соцсети запретят банкам собирать информацию для поиска клиентов

The largest social networks Facebook and “Vkontakte” plans to prohibit banks and financial institutions to collect information about users to search for potential customers. Accounts that exhibit similar activity will automatically be blocked.

Social network Facebook has managed to begin to impose restrictions on the collection of personal information about the user accounts that belong to banks and other financial organizations. One of the first who fell under this limitation in Facebook, became a British insurance company Admiral. The account of this organization has been blocked due to fraudulent use of user provided information.

So, the Admiral used different methods for data collection and analysis, in particular, the company used a specific algorithm that created the risk-profile of the user based on the number of messages, likes and other content. Based on the data collected, the insurer Admiral was planning to make offers on individual terms to their potential customers.

Representatives of Facebook said that financial organizations can use the accounts only for authorization in the system and verification of customers. For all other actions, according to them, users must give their own consent.

In addition to Facebook, the ban on the collection of data about users can use other social networks, including “Vkontakte”. However, representatives of banks and other financial institutions claim that such measures are not a complete justification, but the social network just want to earn extra income, according to “Izvestia”.


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