Re:EU citizens’ rights are under threat from anti-encryption...
by nnx on Friday January 29, 2021 @07:36AM
(#25956597)
This is interesting use case but has nothing to do with invasive KYC (as done by banks), the same anomaly detection and follow up could be done if you were some random identifier “Joe” with any contact detail (email, phone number, telegram handle, ...)
This has also a positive side. E.g. I never shop shoes online. So my bank called me one fine afternoon because someone used my card number to buy shoes. That store only sells women's shoes (I am a man). This was not consistent with my "profile" (of course I have one) and they cancelled the transactions, refunded the money, notified VISA and merchant, and called me to tell me that they will see the transactions on my logs (-50, -100, -150 and then +50, +100, +150).
I expect and demand that from my bank, but not from Facebook: "hey why aren't you in your typical pizza resto and you went across the street?"