As a Chase customer, the news that banking jobs are moving offshore concerns me. My concern is over the confidentiality of my banking information. Time to consider moving my accounts elsewhere.
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The interesting thing about that last comment is that it's true. But Jwhat JPMC and other companies either fail or don't care to understand is that some things are very different. If it's typical to pay bribes to get something done by a local official... well there's your clue about how things are done in that country. Unfortunately it's almost impossible to avoid having your private data at risk for being breached at some point. But hey look at the cost savings companies like JPMC are getting .
This is not in defense of JPMorgan Chase or any other similar compamy, but we need to be real here.
Not sure where in the US you will find an organization that will provide services like those of JPMorgran or similar companies with US staff only. In today's world there are more offshore staff members who support such organizations than onshore members, contracted or not.
Customer data is most likely restricted to only those staff members with a need to see, and only what is needed to do the job.
As consumers we should ask how is our data is safe kept and have there been any breaches of the data either shared or incorrectly accessed.
While your data most likely isn’t being stored offshore it is definitely freely accessible by employees located offshore.