As bank jobs go abroad, are records at risk?

[Thom Little]

First, US textile jobs were shipped to the Orient, then customer service call centers for American companies cropped up in Manila. Now the back office of the corner bank is being hauled to Bombay and Bangladore, India.

From SunTrust in Atlanta to Bank of America in Charlotte, N.C., banks are hiring overseas shops to stay competitive, be more efficient, and have access to cheap labor.

But as more accounting and investment banking is being sent overseas, the result is that Americans' personal bank accounts are increasingly susceptible to theft and fraud, some experts say.

"If you think about the scenario, you have the lowest-paid contractors furthest away from the main office all with access to sensitive data," says Paul Bilden, vice president at Covelight, an Internet security company in Cary, N.C. "It's an incredibly risky proposition."




http://csmonitor.com/2006/0106/p02s01-usec.html

[OhioChick]

1. Think that identity theft is bad now...........

Just wait.

[MadHound]

2. No doubt!

Jesus Christ on a pogo stick, what the hell are these idiots thinking? If I had any money in a chain bank, I would be pulling it right now. Luckily, I bank at a little regional bank, and I doubt that they're going overseas anytime soon.

[pitohui]

4. we had embezzlers at my little regional bank too

i don't think a person trying to bootstrap themselves into middle class respectability in bangalore is necessarily more inclined to be a thief than a teller in biloxi who developed a gambling habit

there are bad people who will steal data all over

hell, remember brian maloney of canada, he stole like $2 million from a bank in canada and gambled it away at caesar's in atlantic city back in the day

yet would we be screaming in horror if the outsourcing went to canadians, i don't think so

i'm opposed to all outsourcing because we simply don't have enough jobs in the usa but not because i think foreigners inherently more dishonest than we are

[PDJane]

3. Welcome to my world.

A lot.......and I do mean a LOT ........of credit cards in Canada have a made in the USA data base. The privacy issues with this administration are so severe that the Government of Canada is working on passing privacy laws to deal with the issue.