The National Australia Bank "NAB" has a new set of conditions that customers are required to agree to, in order to protect our "privacy".
I admit to being unfamiliar with the new levels of security required by the bank but these conditions do not appear to benefit the customer at all. It allows NAB to distribute customer personal detail to third parties for their own marketing purposes and gives the bank a "let-out" if its customer private information becomes public knowledge. Here is an excerpt below which demonstrates the NAB attitude.
"We may store your information in cloud or other types of networked or electronic storage. As electronic or networked storage can be accessed from various countries via an internet connection, it’s not always practicable to know in which country your information may be held. If your information is stored in this way, disclosures may occur in countries other than those listed.
Overseas organisations may be required to disclose information we share with them under a foreign law. In those instances, we will not be responsible for that disclosure."
Curiously NAB states as a reason, so the bank can comply with the laws in Australia. Since when did a bank NEED to seek customer approval to comply with Australian laws? I can foresee some time in the future when after personal information has been publicly leaked, NAB will say "but you allowed us to do it by agreeing to the new terms and conditions".
