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Author Topic: VISITING "BAD WEBSITES" WILL LOWER YOUR CREDIT SCORE, SAYS IMF  (Read 789 times)

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Offline RomanCatholic1953

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VISITING "BAD WEBSITES" WILL LOWER YOUR CREDIT SCORE, SAYS IMF
« on: December 23, 2020, 09:31:59 AM »
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    • SOURCE: GREAT GAME INDIA


    A new white paper by the IMF calls for linking your search history to your financial credit score, which would in effect lower your score if you visit websites marked harmful by their fact-checkers.
    Your Search History Will Determine Your Financial Credit Score In Future, Says IMF
    In a new blog post for the International Monetary Fund, four researchers presented their findings from a working paper (read below) that examines the current relationship between finance and tech as well as its potential future.
    The researchers propose using the data from your browsing, search, and purchase history to create a mechanism for determining the credit rating of an individual or business.
    The plan is outlined in a blog written by Arnoud Boot, Peter Hoffmann, Luc Laeven and Lev Ratnovski, pitching the Orwellian notion as a breakthrough in financial technology (Fintech).
    Fintech resolves the dilemma by tapping various nonfinancial data: the type of browser and hardware used to access the internet, the history of online searches and purchases. Recent research docuмents that, once powered by artificial intelligence and machine learning, these alternative data sources are often superior than traditional credit assessment methods, and can advance financial inclusion.
    Overall, while much of the technological progress in finance is evolutionary, its pace is accelerating fast. Fintech’s potential to reach out to over a billion unbanked people around the world, and the changes in the financial system structure that this can induce, can be revolutionary.
    Governments should follow and carefully support the technological transition in finance. It is important to adjust policies accordingly and stay ahead of the curve.
    Gizmodo commented on the proposal and its mortifying consequences if it were actually implemented on a grand scale.
    The researchers acknowledge that there will be privacy and policy concerns related to incorporating this kind of soft-data into credit analysis. And they do little to explain how this might work in practice. The paper isn’t long, and it’s worth a read just to wrap your mind around some of the notions of fintech’s future and why everyone seems to want in on the payments game.
    As it is, getting the really fine soft-data points would probably require companies like Facebook and Apple to loosen up their standards on linking unencrypted information with individual accounts. How they might share information with other institutions would be its own can of worms.
    However, the policy seems to be designed to bring an end to alternate news media with grave consequences for those engaged with the organisation.

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    Offline SimpleMan

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    Re: VISITING "BAD WEBSITES" WILL LOWER YOUR CREDIT SCORE, SAYS IMF
    « Reply #1 on: December 23, 2020, 10:39:41 AM »
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    • Credit scores are (or should be) reflections of how likely you are to pay the money back, and how much you can borrow and still be able to do so.  Better risk, proven over time, the higher your credit is.  I have absolute sterling credit due, Deo gratias, to a lifetime of sound financial management and living frugally --- not everybody is that fortunate, not everyone has that option --- and I can go into any bank in this land and get a signature loan of a fairly sizable amount.  The fact that I do not do so --- I don't need it --- doesn't hurt my credit, and probably helps.

    There are few temporal assets more useful than good credit.  And I can tell you, from having worked with a lot of people whose credit was not so good, that wealthy and high-paid professionals often have abysmal credit.  (And then they wonder why they can't get loans.)
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    Offline RomanCatholic1953

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    Re: VISITING "BAD WEBSITES" WILL LOWER YOUR CREDIT SCORE, SAYS IMF
    « Reply #2 on: December 24, 2020, 09:36:52 AM »
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    • Quote from: SimpleMan on December 23, 2020, 10:39:41 AM
    Credit scores are (or should be) reflections of how likely you are to pay the money back, and how much you can borrow and still be able to do so.  Better risk, proven over time, the higher your credit is.  I have absolute sterling credit due, Deo gratias, to a lifetime of sound financial management and living frugally --- not everybody is that fortunate, not everyone has that option --- and I can go into any bank in this land and get a signature loan of a fairly sizable amount.  The fact that I do not do so --- I don't need it --- doesn't hurt my credit, and probably helps.

    There are few temporal assets more useful than good credit.  And I can tell you, from having worked with a lot of people whose credit was not so good, that wealthy and high-paid professionals often have abysmal credit.  (And then they wonder why they can't get loans.)
    What this means that if you go to conservative websites, and any website that criticizes actions of the government
    such as you have to accept mainstream news media propaganda such as concerning cv-19, big pharmaceuticals,  
    Israel, the Jєωs, the h0Ɩ0cαųst, Antifa, BLM, etc.....
    You could lose you job, your reputation, lose your bank account and money, break up your Family, lose your children to
    the atheistic state.
    This has been done in China for years.
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    Offline Matthew

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    Re: VISITING "BAD WEBSITES" WILL LOWER YOUR CREDIT SCORE, SAYS IMF
    « Reply #3 on: December 24, 2020, 02:23:05 PM »
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    • Quote from: RomanCatholic1953 on December 24, 2020, 09:36:52 AM
    What this means that if you go to conservative websites, and any website that criticizes actions of the government
    such as you have to accept mainstream news media propaganda such as concerning cv-19, big pharmaceuticals,  
    Israel, the Jєωs, the h0Ɩ0cαųst, Antifa, BLM, etc.....
    You could lose you job, your reputation, lose your bank account and money, break up your Family, lose your children to
    the atheistic state.
    This has been done in China for years.

    This is why we can't allow Biden to become president, even if he stole the presidency. His presidency, if it ever comes to pass, will be completely illegitimate.
    Biden is in China's pocket, and certainly has this "social credit score" system in mind for us.
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    Offline Struthio

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    Re: VISITING "BAD WEBSITES" WILL LOWER YOUR CREDIT SCORE, SAYS IMF
    « Reply #4 on: December 25, 2020, 03:35:36 PM »
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    • Who would want to borrow money, paying interest anyway? Support the juice?
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    Men are not bound, or able to read hearts; but when they see that someone is a heretic by his external works, they judge him to be a heretic pure and simple ... Jerome points this out. (St. Robert Bellarmine)

    Offline Prayerful

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    Re: VISITING "BAD WEBSITES" WILL LOWER YOUR CREDIT SCORE, SAYS IMF
    « Reply #5 on: December 25, 2020, 08:14:16 PM »
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    • Maybe if this meant using porn, but knowing how these lads work, not using porn might lower the social score.
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