Banks put customers in Swift Catch-22

'Please treat my data with disrespect'


Bank customers wanting to make international transactions are being asked to sign a waiver to allow their personal details and financial records to be scanned by US anti-terror investigators.

The waivers put customers in the same Catch-22 European data protection officials found themselves in after it emerged that the US had been snooping on the world's international financial transactions in the hope of picking up some transnational insurgents.

According to reports received by The Register, people wanting to make international money transfers using the Belgian-based international banking co-operative Swift (as most do), have been asked to sign a form giving their approval for details of their transaction to be disclosed "to any Government entity, regulatory authority or to any person we reasonably think necessary for these purposes".

These purposes being "fighting crime and terrorism" and "any applicable laws".

The disclaimer warns: "This may mean that personal information will be transferred outside the EEA to countries, which do not provide the same level of data protection as the UK."

This is illegal under EU law, which says data should not be sent to countries that don't give people the same data protection rights.

Yet if customers don't sign away their privacy rights to foreign governments in the name of the "war on terror", they will find it very difficult to make international payments.

This was the same dilemma faced by the EU data protection authorities when they investigated the Swift situation earlier this year. The US was going to take Swift's records no matter what the EU authorities thought about their comparatively inferior data protection laws. And as there was no alternative to Swift, the only solution was for Swift to pull its US servers back onto European soil.

The US and EU are presently trying to harmonise their data protection laws to make such waivers unnecessary. EU law requires police to have good reason for going into people's private records. But proposals are being passed that might water these protections down. ®


Other stories you might like

  • It's 2022 and there are still malware-laden PDFs in emails exploiting bugs from 2017
    Crafty file names, encrypted malicious code, Office flaws – ah, it's like the Before Times

    HP's cybersecurity folks have uncovered an email campaign that ticks all the boxes: messages with a PDF attached that embeds a Word document that upon opening infects the victim's Windows PC with malware by exploiting a four-year-old code-execution vulnerability in Microsoft Office.

    Booby-trapping a PDF with a malicious Word document goes against the norm of the past 10 years, according to the HP Wolf Security researchers. For a decade, miscreants have preferred Office file formats, such as Word and Excel, to deliver malicious code rather than PDFs, as users are more used to getting and opening .docx and .xlsx files. About 45 percent of malware stopped by HP's threat intelligence team in the first quarter of the year leveraged Office formats.

    "The reasons are clear: users are familiar with these file types, the applications used to open them are ubiquitous, and they are suited to social engineering lures," Patrick Schläpfer, malware analyst at HP, explained in a write-up, adding that in this latest campaign, "the malware arrived in a PDF document – a format attackers less commonly use to infect PCs."

    Continue reading
  • New audio server Pipewire coming to next version of Ubuntu
    What does that mean? Better latency and a replacement for PulseAudio

    The next release of Ubuntu, version 22.10 and codenamed Kinetic Kudu, will switch audio servers to the relatively new PipeWire.

    Don't panic. As J M Barrie said: "All of this has happened before, and it will all happen again." Fedora switched to PipeWire in version 34, over a year ago now. Users who aren't pro-level creators or editors of sound and music on Ubuntu may not notice the planned change.

    Currently, most editions of Ubuntu use the PulseAudio server, which it adopted in version 8.04 Hardy Heron, the company's second LTS release. (The Ubuntu Studio edition uses JACK instead.) Fedora 8 also switched to PulseAudio. Before PulseAudio became the standard, many distros used ESD, the Enlightened Sound Daemon, which came out of the Enlightenment project, best known for its desktop.

    Continue reading
  • VMware claims 'bare-metal' performance on virtualized GPUs
    Is... is that why Broadcom wants to buy it?

    The future of high-performance computing will be virtualized, VMware's Uday Kurkure has told The Register.

    Kurkure, the lead engineer for VMware's performance engineering team, has spent the past five years working on ways to virtualize machine-learning workloads running on accelerators. Earlier this month his team reported "near or better than bare-metal performance" for Bidirectional Encoder Representations from Transformers (BERT) and Mask R-CNN — two popular machine-learning workloads — running on virtualized GPUs (vGPU) connected using Nvidia's NVLink interconnect.

    NVLink enables compute and memory resources to be shared across up to four GPUs over a high-bandwidth mesh fabric operating at 6.25GB/s per lane compared to PCIe 4.0's 2.5GB/s. The interconnect enabled Kurkure's team to pool 160GB of GPU memory from the Dell PowerEdge system's four 40GB Nvidia A100 SXM GPUs.

    Continue reading
  • Nvidia promises annual updates across CPU, GPU, and DPU lines
    Arm one year, x86 the next, and always faster than a certain chip shop that still can't ship even one standalone GPU

    Computex Nvidia's push deeper into enterprise computing will see its practice of introducing a new GPU architecture every two years brought to its CPUs and data processing units (DPUs, aka SmartNICs).

    Speaking on the company's pre-recorded keynote released to coincide with the Computex exhibition in Taiwan this week, senior vice president for hardware engineering Brian Kelleher spoke of the company's "reputation for unmatched execution on silicon." That's language that needs to be considered in the context of Intel, an Nvidia rival, again delaying a planned entry to the discrete GPU market.

    "We will extend our execution excellence and give each of our chip architectures a two-year rhythm," Kelleher added.

    Continue reading
  • Amazon puts 'creepy' AI cameras in UK delivery vans
    Big Bezos is watching you

    Amazon is reportedly installing AI-powered cameras in delivery vans to keep tabs on its drivers in the UK.

    The technology was first deployed, with numerous errors that reportedly denied drivers' bonuses after malfunctions, in the US. Last year, the internet giant produced a corporate video detailing how the cameras monitor drivers' driving behavior for safety reasons. The same system is now apparently being rolled out to vehicles in the UK. 

    Multiple camera lenses are placed under the front mirror. One is directed at the person behind the wheel, one is facing the road, and two are located on either side to provide a wider view. The cameras are monitored by software built by Netradyne, a computer-vision startup focused on driver safety. This code uses machine-learning algorithms to figure out what's going on in and around the vehicle.

    Continue reading

Biting the hand that feeds IT © 1998–2022