Banks turn to social media to trap loan defaulters - The Times of India

http://socialnetworkingnews.org/banks-turn-to-social-media-to-trap-loan-defaulters-the-times-of-india/

NEW DELHI: Be careful of friends and followers. Some banks have started using Facebook and Twitter to try and keep track of students who have taken education loans from them, casting a wider net to keep defaults in check. When payments are delayed, these banks use information available on social networking websites to track down customers and get in touch with them with the help of local branch staffers. In some cases, banks may even be able to send or post reminder messages to them through such websites.

Source: timesofindia.indiatimes.com

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