This is the Shared Security Weekly Blaze for August 13, 2018 sponsored by Security Perspectives – Your Source for Tailored Security Awareness Training and Assessment Solutions and Silent Pocket. This episode was hosted by Tom Eston. Listen to this episode and previous ones direct via your web browser by clicking here!
Show Transcript
This is your Shared Security Weekly Blaze for August 13th 2018 with your host, Tom Eston. In this week’s episode: Facebook and your financial transactions, Smart Home security and critical HP printer vulnerabilities.
The Shared Security Podcast is sponsored by Silent Pocket. With their patented Faraday cage product line of phone cases, wallets and bags you can block all wireless signals which will make your devices instantly untrackable, unhackable and undetectable. Visit silent-pocket.com for more details.
Hi everyone, this is Tom Eston, Co-host of the Shared Security podcast. Welcome to the Shared Security Weekly Blaze where we update you on the top 3 security and privacy topics from the week. These podcasts are published every Monday and are 15 minutes or less quickly giving you “news that you can use”.
The Wall Street Journal reports that Facebook is asking large banks to share customer information and financial records so that they can potentially offer financial services via Facebook Messenger. The proposal from Facebook includes getting access to bank customer’s card transactions, account balances as well as information on where customers are spending their money. In return for customer information, Facebook will provide banks with access to Facebook user information, which may be lucrative to a large bank looking to sell and target their services to existing and new customers. Facebook has said that they would not use any information provided by banks for targeted ads and would not share this data with third-parties. This news comes as Facebook is still conducting damage control on their public relations after the infamous Cambridge Analytica scandal where the personal data of approximately 87 million Facebook users was harvested without user consent.
My take on this story is that Facebook needs to find new and innovative ways to collect user data which in turn allows companies to use the Facebook Platform to give you, guess what, more ads. We all know how Facebook makes money and that’s through your data being used to sell you more stuff. It should be no surprise then that Facebook is looking to get into the social financial business recently made popular by PayPal’s Venmo app. Haven’t heard of Venmo? Venmo is an application which allows social sharing of financial transactions. Venmo itself has been also in the news recently for the ease of which anyone can publicly view the financial transactions of anyone using the app. This is because all Venmo transactions are made public by default. This past July a savvy developer created a Twitter bot called “@VenmoDrugs” to showcase any financial transactions related to drug deals, sex or alcohol. The developer eventually removed the Twitter account after being the center of some controversy and news reports, but it does demonstrate that there is money to be made with an app that allows transactions to be public by default. Venmo won’t be the last app that will monetize the social sharing of financial transactions and it seems Facebook doesn’t want to be the last.
Have you recently sold your home or mov
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