Wednesday, March 12, 2014

A tv news segment on data brokers that is worth watching

Television newsmagazine 60 Minutes aired a segment about online data brokers. There's a concern that no one really knows exactly how many companies are tracking online users or to what extent. However, there's a belief among industry watchdogs that enough information is collected to accurately build our individual profiles, including things such our race, religious view, political affiliations, family medical history, if we've had STDs, and the list goes on an on. The information is then churned into lists that are for sale: lists containing the names of gays and lesbians, people who have bipolar disorder, and those who have gambling, sexual and alcohol addictions. One company, for example, has 1,500 pieces of information about 200 million Americans.
The American government acknowledges there is virtually no oversight of data brokers. One Senator has proposed a bill to introduce regulation but says it's being stonewalled by the big 3 U.S. data broker companies. The CEO of one of them told 60 Minutes that the industry is capable of self-regulating, yet says he doesn't go online and share his personal information. He says consumers ought to know the internet is an "advertising medium." Hmmm. He also adds regulating the data brokers would "cripple" the economy.
It's a very interesting segment. Even better is the extra clip called "How to Defend Your Privacy." It's definitely worth 6 minutes of your time.

The Data Brokers: Selling your information (the main segment)






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