Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
The ease with which personal information can be sent offshore for processing by banks and other financial institutions puts tens of thousands of jobs at risk over the next decade, according to the Finance Sector Union.
And South Australian senator Nick Xenophon is seeking an amendment to
consumer legislation that would require banks to get permission from
customers before sending their personal information to offshore
processing facilities.
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.
David Bass
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