Financial Protection of the Personal Information



Financial Protection of the Personal Information

Introduction

With the ability of the modern technology, which is for gathering and retaining data, several businesses of the financial services have found progressively more ways for taking advantage of the large pools of the personal information of customers. Moreover, such financial services are serving their customers in more better and effective ways by increased communications and tailoring services to their preferences and needs, but also can earn profit from sharing the information with all other people who are willing to compensate for the lists of customers or compilations of targeted markets. Whereas, some consumers are delighted and satisfied with the broad ranging accesses to the available information services by sharing the information with various service providers of the financial offers. Specific interested parties and the individuals took interest in controlling several secondary usage of such personal information. The US has no any particular law which concerns the financial privacy but, the Constitution has been made in a way that it provides no any type of security and protection against the access of government to financial information for turning over to third parties (US vs. Miller, 1976).

Discussion

There are several measures that require some serious sort of safety or protection from being misused, theft, or from bearing some type fraud regarding the personal information of the financial intermediaries. In this digital world, the concern of privacy has been increased to double as it requires much protection than before. Same is the issue with using a credit card. Preventing the fraud and maintaining the security measures are getting more advanced day by day in order to break the tactics of fraudsters through the barriers. Taking some measure by the fraudulent regarding the credit card can be avoided is more significant especially in the digital world of today.

Protecting Credit Cards in Digital World

Some tips in this regard are very helpful that can protect the credit card at all the times as the prevention of fraud in terms of credit card is the priority of every card holder. Some of the effective tips are:

To avoid lending credit cards to others.

To pay attention closely while using credit cards at any store.

To sign back the credit card soon after receiving it.

Not to write down the PIN

To check the statements of credit card each month.

To shred out all the statements of credit card.

To cut old credit cards after its expiry.

To avoid providing personal information over phone or e-mail.

To avoid providing information on the websites which are un-secure.

To report immediately after in case of any steal or loss or any unauthorized transaction.

To avoid signing a blank receipt of credit card.

To carry the only credit card that is required.

To inform the company of credit card before any travelling

To notify the company of credit card in case of any change in the permanent residence.

Types of Fraud and Theft in the Digital World

There are a lot of thefts of the contents of personal ...