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Information Technology News Jobs at risk as bank data heads offshore: Mr X
Information Technology News Jobs at risk as bank data heads offshore: Mr X | Jobs at risk as bank data heads offshore: Mr X |
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| by James Riley | |
| Monday, 26 October 2009 | |
  
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FSU national policy director Rod Masson said the rate of high-value ICT job losses to offshore processing in the finance sector was not sustainable, and would ultimately impact on the sector’s ability to remain competitive. "We simply want some attention paid to this issue in terms of the off-shoring of jobs," Masson said. "Among the banking and finance companies, we just don’t think its sustainable in terms of developing the kinds of skills we need in this industry going forward (to send jobs offshore.)" The FSU and Senator Xenophon are seeking a "right to know" amendment to a Trade Practices Act (Australian Consumer Law) bill currently before the Senate that would require banks to get permission from customers before shipping personal details offshore. They say the right to know requirement would have the effect of stemming the flow of jobs that have moved to offshore processing centres. The FSU says more than 5,500 banking jobs have been lost to cheaper offshore labour in recent years. "Australians have a right to control who has access to their personal information," Senator Xenophon said. "Banks shouldn't be allowed to try and save a few bucks by jeopardising the privacy of millions of Australians." Senator Xenophon said consumers should be told where their personal details would reside so they could make an informed choice about which institution or services they chose to use. A survey commissioned by Senator Xenophon and the FSU found 91 per cent of Australians would choose a bank that would not send their personal information overseas. |
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