Open Banking is a massive threat to ordinary people’s data security

In January 2018, a sweeping new set of rules hit the UK financial sector. Collectively referred to as Open Banking, they’re designed to give ordinary consumers more control over their financial data. While the intentions behind the new regulations are noble, the consequences could be dire.

On the face of it, Open Banking is a good thing. In essence, it requires banks to hand over their customers’ data to third parties, if those customers request them to do so.

Read More