MEDIA ALERT

9 out of 10 Australians don't want their personal information sent overseas by banks

WHAT:  Press conference – Senator Nick Xenophon and Leon Carter, National Secretary of the Finance Sector Union
WHERE:  Senate courtyard, Parliament House, Canberra
WHEN:  10am, Monday 26 October 2009 (TODAY)                         

91 percent of Australians say they would choose a bank that would not send their personal information overseas for processing, according to a nation-wide survey jointly commissioned by the Finance Sector Union and Independent Senator for South Australia Nick Xenophon.

The survey also revealed 83 percent of people believe banks should be required to get written permission from a customer before sending their personal details overseas.

More than 5,500 finance jobs have already been lost to cheaper overseas labour and with them have gone customers’ personal details including home addresses, phone numbers, dates of birth, passport numbers, credit card and bank account numbers, wages and salaries, assets and liabilities, marital status, employment histories and PINs.

Senator Xenophon will announce this week an amendment to the Trade Practices Act (Australian Consumer Law) Bill 2009 that would require banks to get written permission from customers before sending personal information overseas for processing.

"Australians have a right to control who has access to their personal information," Nick said.  "Banks shouldn't be allowed to try and save a few bucks by jeopardising the privacy of millions of Australians."

"When Australian jobs are lost and the work sent offshore, your personal information also goes offshore," Leon Carter, FSU National Secretary, said. "Off-shoring threatens jobs, financial security and does nothing to improve customer service."

“Two of the most aggressive offshorers amongst our banks are set to announce their enormous profits this week. Surely they should be investing in keeping jobs here” Leon said.

For more information: Nick Xenophon on 0411 626 677, Leon Carter on 0409 946 597, Rohan Wenn on 0409 696 531 or Rod Masson (FSU) on 0408 374 677.

Click here to read Senator Xenophon's proposed amendment

Click here to read poll results