The problem with your interpretation is that bank communications are still a means of communication. So the vagueness of the law allows politicians to extend th

The problem with your interpretation is that bank communications are still a means of communication. So the vagueness of the law allows politicians to extend their requirements to any product they wish without exception. This isn't something I believe to be accidental either as terrorism laws are often written to be vague with the intent of common sense regulation - which often gets bypassed when a jobsworth believes they're in the right.