[notyourwork]

How does NSA spying on financial transactions erode confidence in banking system?

[hl5]

Because it encourages adoption of alternative systems.

The Swiss Banking Act of 1934 is an indicator of the magnitude of change that can occur when banking privacy is not respected.

[folli]

Some more information about the Banking Act: https://www.theguardian.com/business/2015/feb/08/hsbc-files-...

[thesimon]

Most people probably expect a high level of privacy.

[anigbrowl]

Not from government actors, unless they're clueless.

[ionised]

Having expectations is not the same as having those expectations shattered

[harigov]

Given the number of leaks coming out of intelligence agencies lately, I am not sure if this information will be safe either. I wonder how many countries will topple if their politicians bank account details leaked.