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Data Brokerage A Serious Concern?

The Dark Side Of Data Brokerage Business

With the increasing worth and volume of personal data, Data Brokers have begun to gain a gigantic amount of 'traction' as of late, offering to oversee and monetize consumers' personal data sets. Utilizing a variety of assets to assemble data, the firm gathers consumer data and offers to sell them to other business.

The data gathered is typically sold as profiles which are offered to different business, hoping to target individuals for various ad campaigns.

For some people over the world, data brokerage may be an extremely new term; however, this 'plan of action' has turned out to be one of the most profitable ones in this period — it is a $200 Billion industry.

So as to keep your information from getting sold or utilized by somebody, out of the considerable number of data brokers in the business, 43% of them enable consumers to 'opt-out' for free while others may need to pay a certain amount.

There was a rather shocking incident from India where in 2017, The Economic Times reached out as a purchaser to a data broker, selling personal data, and what they found was quite surprising, for just ₹10,000 and ₹15,000, the company was selling personal data of up to 1 lakh citizens in urban areas like Bengaluru, Hyderabad and Delhi.

While there have been many unlawful exercises and approaches by Data Brokers, this business frequently is known to operate following the law. They may get hold of a 'huge amount of data'; in any case, the manner in which they accumulate it doesn't appear to be illegal in any way.

Data Brokerage in the wake of turning into a genuine worry in the on-going long periods of its ascent, it has fallen under cautious examination and governments of numerous countries have already begun watching out for the operations of these companies.

In any case, the internet is something to be careful about as one of the common ways for gathering information is via the internet for the openly accessible information i.e. public data and people there can do things way beyond our imagination.

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