#NOW Business

FTC Releases Report On Data Brokers

FTC Releases Report On Data Brokers 2014-05-27

(Fox Weekly) — On Tuesday, federal regulators alerted about how data is being collected and being used for advertising purposes. This sort of information is not new and has been the subject of discussion for many years. A report released by the Federal Trade Commission has called for legislation to restrict the industry and to shed more light on what’s going on.

Most of the concentration is focused on the Hispanic and African American community. Keywords that individuals look for on the internet are sent for advertising. As, for example, if one were to search anything fitness or health related, data will be collected on what the user is looking up or interested in and is then used for consumer advertising. This form of advertising scheme is clearly an invasion of privacy, and according to the FTC, can gather personal information that not even a family member would know.

According to the FTC, analysis of information gathered should be provided to the consumer, in which they should know about the collection of data. On the FTC analysis report, nine brokers were listed which included Acxiom, CoreLogic, Datalogix, eBureau, ID Analytics, Intelius, PeekYou, Rapleaf and Recorded Future. The report also mentioned a group called “Biker Enthusiasts“, which stated that this controversial data mining method can help consumers find what they’re looking for.

But these collective data miners pose a risk and potential threat to consumers. These brokers would know more than they should about an individual. Risky data that would be collected includes political affiliations, age, religious views, health conditions and financial information.