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Law firm gives guidance on account aggregation

Law firm Osborne Clarke is publishing a guide on account aggregation with the aim of addressing concerns about the new service.

One of the issues raised in the question-and-answer format guide is whether an aggregator using screen scraping will be seen as hacking and if the accountholder will be implicated.

Screen scraping is the use of special software to collect information from host websites for presentation in consolidated form on the aggregator&#39s web page.

Osborne Clarke says a problem could emerge as there is generally no contract between the product provider and the aggregator.

It advises that the aggregator should tell the provider when it is about to screen scrape and, if access is not denied, then consent is implied.

Osborne Clarke explains that the FSA does not regulate account aggregation as it is not an authorised activity or financial promotion.

Financial services and technology partner Robert Courtneidge says: “There has been a lot of talk about this subject and urban myths have already sprung up about account aggregation which are simply not true. We intend to provide definite answers to allow consumers to make an informed decision on whether they wish to use account aggregation.”


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