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by jdsemrau
5104 days ago
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>I build BIG financial software and we have certain audit requirements, access control requirements, data protection requirements etc and that is exactly how it should be. Funny, I had the same argument with a colleague today. Since FB is listed and their business model is based on customer data they should follow the same legal requirements as customer finance companies. |
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Perhaps. But they certainly do not have the restrictions of financial audit requirements and things like Dodd Frank etc. which is overwhelming all the major banks right now and is a big way to earn money for consultants if they know ABC of audit/compliance in 2012. Anyway, the point is that fb even though not ideal in how they store/use user data (which I personally am not a fan of as well), it does not matter as much as it matters to a bank/financial institution. I say this while I work for clients that are major banks.