“Getting to Know You, Getting to Know All About You…” FTC Data Brokers Report Calls for More Industry Transparency, Regulation in How Data Brokers Use Consumers’ Personal Information

Cybersecurity News“Getting to Know You, Getting to Know All About You…” FTC Data Brokers Report Calls for More Industry Transparency, Regulation in How Data Brokers Use Consumers’ Personal Information There is an interesting new article of interest to our readers:

“You may not know them, but data brokers know you,” Federal Trade Commission (FTC) Chairwoman Edith Ramirez said when she announced the release of the Commission’s newest report on the data broker industry. And in the FTC’s opinion, Congress and the data brokerage industry need to take concerted action to bring transparency to the industry, protect consumers’ personally identifiable information (PII), and prevent abuse and discrimination. But will the FTC’s recommendations have any real effect? In light of recent statements about “actual” vs. “potential” harm and the expanding scope of the Agency’s Section 5 enforcement authority, the answer is a definite “maybe.”

Summary
On May 27, 2014, the FTC released “Data Brokers: A Call for Transparency and Accountability,” a report that marks the conclusion of the FTC’s two-year study into data broker industry practices. Coming on the heels of the White House’s own Big Data Report the FTC’s Data Brokers Report highlights that “[i]n today’s economy, Big Data is big business” with numerous positive effects for both companies and consumers. And data brokers specifically play an important role in driving our economy through increased targeted marketing, identity verification and fraud detection.

But the Data Brokers Report also rang …Continue Reading

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“Getting to Know You, Getting to Know All About You…” FTC Data Brokers Report Calls for More Industry Transparency, Regulation in How Data Brokers Use Consumers’ Personal Information

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