Data Protection Ombudsman: Quick Text Message Loans break the Personal Data Protection Law
@ 11:03 pm Data protection board: Personal ID number, phone number, and address aren’t enough to identify the loan applicant.
If I was running one of those quick SMS loan companies, with that information above, I could go to Asiakastieto and look up the person’s credit history. With the bank account number, I could ascertain if the name of the applicant is the same as the owner of the account. Currently, I could also have the Finnish taxpayers’ incomes (Veropörssi) all downloaded to my computer from the Internet to see what kind of income the person makes and if the municipality matches. (this is another Personal Data Protection Law issue, which is going to the oral hearing in the European Court of Justice in the middle of February) I could also call the person and ask a few questions to see if it sounds like the same person and double check the address and personal ID number. Most people know their own address and personal ID number by heart. One could also check the public registry to see if the name and address match. After all that, certainly I would be willing to risk a few hundred Euros in order to get a return of 15% or more interest on a few weeks’ investment. That’s what business is about - taking a calculated risk, hoping to make some money.
Is possible identity theft the real issue? One company, Tammi Rahoitus, reported 8 incidents of misuse when giving a few thousand loans. I think it is a novel new business idea. The government has been after these new businesses from the beginning. I would only be thankful for the new tax revenue. Maybe they want to take all of it over and put it under a government monopoly. Some have been arguing that people can get the loans too easily and some restrictions have even been made so that people take the loans during the time of day when most people are sober. Is the problem that someone is bothered by someone making really good money with a novel new business idea while doing very little actual work, in a business where they only need to invest a few thousand Euros?
Well, it doesn’t bother me anyway. When I need a loan, which I rarely do, I can always find a friend or relative to borrow money from, and they don’t charge interest.
Many people feel that Finland’s practices regarding protection of personal data reach the level of Human Rights Abuse, as defined under the UN’s Universal Declaration of Human Rights. Can you imagine that POLICE can use your personal financial details to determine anything from speeding ticket amounts to deciding whom to target for getting maximum revenue?!
No chance for discrimination or abuse of power there. Right. Obviously, most people in the world couldn’t imagine such a personal violation. In Finland, there’s no limit to what the police can do with your information.
Finland’s practices also conflict with other international treaties that Finland has signed—most tax treaties (such those with the US, Australia and EU countries ) stipulate privacy and discretion regarding financial information. Every person living in Finland should seriously be concerned about the violation of their rights, concerning the misuse of their personal data.
Comment by Kristian — Thu, Jan 31st, 2008 @ 11:16 pm
When I want a loan, I go get a free Credit Card with no interest for 6 or even 12 months.
One even gave me a 1% rebate for all Home Improvements I made, plus a 6 month free loan.
I pay them off, and have no interest charges. Sweet.
Comment by winter “Yea, Proton Power, now in remission†— Thu, Jan 31st, 2008 @ 11:24 pm
What do Hummer-driving Billionaires need credit for?
Comment by Freeridin' Franklin — Fri, Feb 1st, 2008 @ 10:34 am
The guys who are getting rich are the ones giving the loans, not the ones getting them.
This is happening in much the same way when the first payment plans came for buying products. Now noone even talks about it any more.
Comment by Sirkuspelle — Fri, Feb 1st, 2008 @ 11:24 am
There are many laws that Finns break knowingly and unknowingly, while their claim of being honest people in the people are BS…just look at the YLE headlines, http://www.yle.fi/news/
…Media Council Issues Reprimand over Racist Comments by YLE Morning TV Guest…not the first time you get shove in the face with this horseshit!
…Neo-Nazi Concert in Tampere Sparks Concern…yup, only in this xenophobic society you get this blatant Aryanist monsters!
…Biathlete Varis Doping Suspicions Confirmed…
Finns are honest people??? crap
Comment by Anonymous — Fri, Feb 1st, 2008 @ 4:40 pm
@5 Well, at least a reprimand was given over the racist comments on TV. There would be more cause for concern if no reprimand was given.
Comment by Sirkuspelle — Fri, Feb 1st, 2008 @ 5:14 pm
I don’t think it would be a problem if it was 15%… the problem is the interest rates rack up so high percentages if a normal person would do it he’d be charged with loan-sharking.
http://www.talentum.com/doc.te?f_id=1094136
Comment by Hank W. — Fri, Feb 1st, 2008 @ 5:18 pm
Oh thats Ritva Santavuori for chrissakes. She makes Jerry Fallwell look like a pinko liberal with her asinine comments on the Aamu-tv.
Comment by Hank W. — Fri, Feb 1st, 2008 @ 5:22 pm
Anonymous @5, a couple of pointers for you, if you may. “Being honest” and “obeying the law” are two definitely distinct things, not to be mixed up with each other. There can be such a thing as a “honest thief”, you know. Also, being a racist or, even, a Nazi does not make that person any more dishonest than your average lovey-dovey multiculturalist. In fact, I have a nagging suspicion that some people with openly racist views tend to be even more honest of their feelings and beliefs than a lot of the professed liberals one sees strolling about…
Comment by Drakon — Fri, Feb 1st, 2008 @ 6:20 pm
Well you know, all these multiculturalist flower-hatted aunties are all for immigration - until one of those funny foreigners moves into *their* house, and all of a sudden they start locking their bicycles.
Comment by Hank W. — Fri, Feb 1st, 2008 @ 6:38 pm
http://hiki.pedia.ws/wiki/Ritva_Santavuori
Comment by m — Sat, Feb 2nd, 2008 @ 12:17 am
“Oh thats Ritva Santavuori for chrissakes.”
Did anyone catch Ritva commenting on the apelike qualities of Barack Obama’s grandmother? I understand it was this morning.
Comment by Freeridin' Franklin — Sat, Feb 2nd, 2008 @ 1:39 am
Can anyone get a picture of Ritva Santavuori’s grandmother?
Comment by Tivoliklovni — Sat, Feb 2nd, 2008 @ 11:22 am
Dunno if the “Jälkiviisaat” is on there http://areena.yle.fi/hae?pid=195616&s=1
Comment by Hank W. — Sun, Feb 3rd, 2008 @ 12:41 am