Your Privacy For A Penny

Cash Converters has caused a stir among online security experts with a new addition to their online application process for payday loans. The payday lending giant is requesting the MyGov login details of its online loan applicants.

In 2016, Cash Converters was penalized by the Australian Securities and Investment Commission (ASIC) for not thoroughly vetting the financial situation of applicants and a spokesman for the company told the ABC that this move is to help prevent the company from making irresponsible loans.

Here to talk to us about this is Graham Smith, the Chair of Financial Counsellor’s Association of NSW.