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Laurel Papworth said banks will look at your friends' Facebook profiles and ask questions like: 'Have they paid their loans recently?'; 'Are they taking expensive holidays?'; 'What suburbs do they live in?'
She said they look at your friends, your family, your whole 'tribe' and then might say, 'mmm, they look a bit risky.'
Starting next year Mastercard will be buying Facebook big data, analysing it and selling it to banks.
Initially it will be for pushing products, but who knows where it will end? Laurel Papworth said lenders in 36 countries are now using Facebook data as part of their tools for approving or rejecting loan applications.
She adds that it is going to be very tricky for people to escape their place in life, which they will find very confronting.
originally posted by: Iamthatbish
So how do they deal with the masses that believe in privacy?
Doesn't surprise me in the slightest, my last employer was known to check up on people's facebook pages and snoop around
Currently, it's actually getting in the way of my finding a better job- because as soon as any prospective employer tries to look me up, they don't have immediate access to everyone I know, everywhere I go, how I interact with friends, and what I had for breakfast. Sad world...
originally posted by: longy9999
If this comes into practice here then my facebook page is going bye bye. Seeing a pic of what my neighbor had for tea or countless droning posts about people's girlfriend/boyfriend troubles just isn't worth being spied on.