Are Major Social Media Companies Attacking Your Security?
Reports in some media outlets have asserted that Facebook and Google have attempted to (or accessed) users’ banking data. Upon research and discussion with people familiar with attempts, we have been able to discover some of the underlying requests (media articles may not be fully disclosing the full details). In general, banks want to increase their profits, so they will capitulate to these requests eventually provided they are able to increase profits. Financial institutions such as PayPal, Venmo and other major banks have been approached and this has not been isolated to US firms.
Social media organizations, along with other major tech companies, have also been working to obtain more information about users. In most cases, users provide their own information to these tech companies without any requests. We have discovered a few situations by major tech companies where more information was actively pursued on users. Hackers have already been able to compromise behavioral data (see Why People Are Freaking Out About the Exactis Breach).
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Optional services are exactly that: optional. If you spend your energy on others' inventions, don't be surprised if those inventions turn against you, or turn in ways that favor them over you. Social media companies, along with other tech companies, will give banks information on their users because they can and because it may be profitable to do so. Users could terminate social media at any time, but they choose not to.
Privacy isn't guaranteed when you're making active choices to undermine your own security. That may be the painful pill of reality for people to swallow, but it's true. Only you care about your own security - no one else will. You can take steps to protect it, or you can be at the mercy of others. All tech companies from social media to your mobile use security that is convenient for them.
One of our researchers warned about a decade ago that "history has never been kind those who willingly give up their privacy." We're witnessing this truth.
As a measure of security for this account on the Steem platform, outside an incompatible rule change, this account will never be powered down or have Steem removed. In addition, if this happened due to an incompatible rule, the reason would be stated on a linked account for verification.
If you want to support the Steem platform by helping all users increase their own share, check out @burnpost. The account has earned the reputation for removing Steem, increasing everyone's share of the Steem supply. While many accounts spend hours complaining about this platform, @burnpost is actually a positive account for Steem. It is current on hiatus and plans to return at a later date.
We used the first two paragraphs from Major Firms Continue To Help Hackers with permission from our sponsor, FinTek Development. Image from Pixabay.