POSB personal data leak – There are consumer protection laws to protect information and data leaks and one would expect the bank to have top-notch systems to prevent the breach of data. It is one thing when the computer systems are hacked by a fourteen-year-old kid somewhere trying to hive off the information so that he can sell it in the black market. But, it is an entirely different proposition when the data is leaked because of the bank’s partnership programs.
Here we have a story of how an account holder was aghast to find out that his personal information was leaked to the PSssion ATM card that he had. It is a dicey issue, is he a customer of the Bank of PA? In either case, leaking information like that is not professional at all.
POSB STORY OF THE LEAK
A POSB account holder has criticized the bank for not seeking his consent to share his particulars with the People’s Association (PA), when he was sent a POSB-PAssion ATM card. The PA is a statutory board run by the Government.
In a forum letter published by TODAY on Thursday (4 July), the POSB account-holder Ng Gim Yeow asserted that POSB should have sought his consent to disclose data to the PA. He wrote: “Late last month, POSB sent me a new PAssion POSB debit card. I was glad that the bank did so on its own initiative, as my present automated-teller-machine (ATM) card expires in August.
“But when I got in touch with the bank, I was dismayed to learn that information, such as my employment status, yearly income range and housing type, would be disclosed to the People’s Association (PA). The card is a tie-up between POSB and PA.”
Mr. Ng said that he had been using a regular ATM card all this while and should not have assumed that the permissions he gave the bank several years ago continue under the new card. He also asked why POSB did not offer him the range of various cards it offers, so he could make his own informed decision.
Mr. Ng added that POSB gave him “conflicting replies“ when he asked about exchanging the card for another that does not entail revealing data to the PA. POSB first told him that he could apply for another card online but Mr Ng had to visit a POSB branch since he could not select the option to exchange the card on the bank’s website.
At the crowded branch, Mr Ng decided to request a new card in writing given the long queue of customers ahead of him. The bank, however, responded to him the next day and said that “it could not accede to the request — contradicting an earlier response.” It told Mr. Ng to submit his request online.
Calling on the Monetary Authority of Singapore, Personal Data Protection Commission, and the PA to look into his data privacy concerns, Mr. Ng asserted: “I cannot see how POSB, which bills itself as “neighbors first, bankers second”, lives up to its name when it not only failed to seek my consent to disclose data to a third party but sent me on a wild goose chase.”
The Independent has contacted POSB for comment and will update this story when we receive a response. In an email response we received on Saturday, the bank said that they will clarify the matter in full Monday (8 July.)