This week`s warning from banks that all account-holders need to re-register before the end of June, supplying proof of all personal details in line with new legislation, shook me to my reclusive core.
On the surface, all banks should already have all the contact details, ID numbers and addresses of their account-holders. Adding tax numbers to the mix in line with new legislation also makes sense. It aims to target money-launderers and the multi-billionaire tax dodgers who cleverly fudge their tax returns and leave the rest of us poor Joes footing the bills for roads, hospitals and luxury parliamentary vehicles all by ourselves.
But in this age of brilliant data storage, data mining, customer relationship management and satellite tracking of practically everything, this re-registration takes on an ominous tone. Think about it - the world`s ICT industries have made it possible to link every mainframe to every other mainframe if you try, to hack, crack and track whenever you please.
Pretty soon, all our contact details, financial transactions, tax data and - who knows - medical info, electronic organiser entries and the rest, could find themselves linked in cyberspace. Which we all know is fairly vulnerable, no matter what anyone says.
So it`s only a matter of time before your slap-up lunch with friends on company time gets interrupted by a call from the Receiver`s office, warning you that your electronic diary has been checked, your credit card transactions are being monitored, and if you`re even thinking of claiming your third Mai Tai of the day as a business expense on your next tax return, you`re in deep trouble.
In this age of brilliant data storage, data mining, customer relationship management and satellite tracking of practically everything, this re-registration takes on an ominous tone.
Tracy Burrows, news editor, ITWeb
Or you apply for a major loan, and your stony-faced credit consultant instantly calls up your various credit card and account transactions and informs you that anyone who spends R3 000 on cosmetics in a single retail therapy binge is not a good candidate for credit.
What about when your doctor calls you up in mid-breakfast scoff to tell you he`s received an auto-alert about where you`re shopping, and unless you drop the next slice of bacon at Greasy Mo`s, he`s not going to be held responsible for your cholesterol count. And, while he`s at it, he`s checked your spending and frankly doesn`t believe you can pay your medical bill this month after you splurged on new shoes not half an hour ago.
You could find your creditors wangling a way to help themselves to your money directly from your bank account without your say-so - even if they`ve made a mistake on their billing. Your attempt at an ATM withdrawal could trigger messages like: "Are you sure? Do you realise you haven`t paid Acme Bug Removals yet?" or "The finance ministry suggests saving 25% of your income. You`re way over your monthly spending limit. Stop now, or the national deficit will be all your fault".
The paranoid delusions of people who wear tinfoil hats start looking feasible. Maybe it`s just me, but feel a little uncomfortable about lugging big brother around in my purse.
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