GET Stock QuotesNews18 APP
News18 English

Madhya Pradesh

Rajasthan

Poll in 1 seat deferred

Chhattisgarh

Telangana

Mizoram

»
1-min read

Personal Information Being Sold by ‘Data Brokers’ For Less Than 1 Rupee

India’s IT law does not specifically address the issue of data brokerage and privacy. Data brokerage is still at a very nascent stage in India and the market is dominated by larger international players such as Epsilon, Equifax and Experian that offer more sophisticated data sets, the Economic Times reported.

News18.com

Updated:February 28, 2017, 12:05 PM IST
facebookTwittergoogleskypewhatsapp
Personal Information Being Sold by ‘Data Brokers’ For Less Than 1 Rupee
Demo Pic
Loading...

New Delhi: Personal data – phone numbers, email ids, online purchases and age, income and marital status – were being sold by companies called ‘data brokers’ for even less than a rupee, a report has said.

The Economic Times today reported the findings of its month long investigation into the practice. Posing as prospective buyers, ET reporters approached the data brokers and found that personal data of upto a lakh people was available for between Rs 10-15,000. In some cases the data also included credit and debit card details.

ET purchased personal data of 3,000 people for Rs 1,000 and called up a dozen people living in Delhi, Hyderabad and Bengaluru to verify the information. Online purchases on eBay and Amazon, HDFC and Axis Bank card details and other such personal information was listed in the database that the paper purchased.

An executive from a data broker firm told ET that they purchase the information from mobile service providers, loan agents, car dealers and agents from hospitals and banks. Data brokers are companies that obtain and share consumer information without their knowledge.

India’s IT law does not specifically address the issue of data brokerage and privacy. Data brokerage is still at a very nascent stage in India and the market is dominated by larger international players such as Epsilon, Equifax and Experian that offer more sophisticated data sets, the Economic Times reported.

Data is also collected from social media sites, but is unstructured. Data such as tweets are collected for analytics, and can help understand consumer behavior.

Misuse of financial data is another threat. The Reserve Bank of India registered 8,689 cases of fraud involving credit cards, ATM/debit cards and internet banking up till December 2016, ET reported. Many of these frauds are perpetrated by scamsters by getting customers to share critical data like CVVs or one-time passwords (OTPs).

(Get detailed and live results of each and every seat of the state Assemblies in Madhya Pradesh, Rajasthan, Telangana, Chhattisgarh and Mizoram to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you put on the psephologist's hat. Know interesting facts and trivia about the elections. Elections = News18)
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,110.50 1.18
Yes Bank 186.60 4.92
Dr Reddys Labs 2,586.35 -4.78
ICICI Bank 349.95 2.09
Kotak Mahindra 1,237.15 1.51
Company Price Change %Gain
Yes Bank 186.80 5.30
Reliance 1,110.50 1.30
Axis Bank 619.35 2.50
TCS 2,018.70 1.02
Hero Motocorp 3,265.30 7.57
Top Gainers
Company Price Change %Gain
Hero Motocorp 3,258.65 7.23
Indiabulls Hsg 734.30 5.97
UPL 790.05 5.63
Bharti Airtel 305.55 5.27
Adani Ports 374.45 5.26
Company Price Change %Gain
Hero Motocorp 3,265.30 7.57
Yes Bank 186.80 5.30
Bharti Airtel 305.20 5.21
Adani Ports 374.40 4.90
Tata Steel 520.40 3.75

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results