\"\"
<\/span><\/figcaption><\/figure>Do you remember the story of Frankenstein? Frankenstein creates a monster, but doesn’t know how to tame it when the monster begins to get out of hand and even starts killing people. We seem to have created a similar monster with data<\/a>, only this time it’s not confined to the safety of fiction.

You may be familiar with this situation – you see an unknown number flashing on your mobile phone screen,it does not look like a call center number and so you receive it. But what you hear is the pre-recorded pitch from some company selling financial products or something else. Sellers have found innovative ways to reach potential buyers now that people have wisened up to spotting and ignoring calls from call centre numbers. We all know that enrolling for Do Not Disturb (DND), blocking a few numbers or adding them into the spam folder is not very helpful.

Have you ever wondered how innumerable people access our personal information? How can
Google<\/a> or various mobile apps offer you the best deals on a particular day at your favourite restaurant? We at ETBFSI decided to dig deeper. We spoke to start-ups, installed mobile apps, traveled to shopping malls and restaurants to discover the scary truth of how we are all under constant surveillance.

‘Mobiles are Vulnerable’

<\/strong>There are many who are good with cardinal directions.I am not. So, I downloaded ‘Compass’ a mobile application which helps you figure out the directions at any point. While installing the application a question popped up, “Allow Compass to take pictures and record videos”?Another mobile application, ‘Weather’, that I installed to understand the scientific value of the sun also wanted permission to access my photos. Compass or Weather are not unique that way.
\"\"
<\/span><\/figcaption><\/figure>
Be it Bhim,the government’s UPI driven flag bearer app for payment transfer or IPPB, a payment bank, name any app and they all want access to the photos and media files on your phone. I stress on photos and images because they already have access to the contact list. Almost every mobile app has been designed to allow access only if you make it a sacrifice of your personal information.

Payment companies accessing my contacts, SMS or phone call sounds relevant but what do they want with my photos and media files? Why does the Compass app need my photos to direct me East or West?How will looking at my media files help the Weather app to give me the day’s weather forecast? I needed answers.

“The reason is they are implementing a tracking tool on your device. You are consenting to it, because you don’t have a choice. In android smartphones, whether you consent to it or not, any which way they have your data. They are trying to build a data base and they will sell it to other organizations. So, they are providing you a free service when you yourself are a product and everything you do is on sale. Your opinion is on sale,”says Puneet Bhasin, President & Founder, Cyberjure Legal Consulting.

\"\"
<\/span><\/figcaption><\/figure>According to a research and consultancy firm Gartner, mobile applications are the most vulnerable to data compromise. Chances of hacking and data theft<\/a> of mobile application are higher than on desktops.
“People allow or grant all the permissions to app makers while downloading the mobile app, without knowing what a mobile app can do to your phones,” says an IT analyst from a research firm declining to be named.

Shopping Malls: A Hub for Data Theft<\/strong>

I bought a shirt at a shopping centre. At the billing counter, the staff asked me for my number and date of birth (DOB). I refused. He insisted on my mobile number saying otherwise the system would not open. I asked why they needed my number and my DOB? We create data from our customers and we wish them on their birthdays, he said. When I firmly refused to share the details, the staff entered some number and made the sale. When you shop, it has become mandatory to share this critical data with the shop. Imagine how much data the shop owner collects every year!

“Due to lack of data privacy
regulations<\/a> in India like GDPR; The moment you share your mobile and email contact with hotels, retail stores, etc they will start the promotional activity. Customer identity, their spend and contacts makes a very valuable set for business profiling. There is no transparency in how will they use the data,” says, Susheem Grover, Cyber Security<\/a> Lead at Visa

To lure customers, shopping malls have enough weapons such as redemption of points, rewards, and offers on fresh arrivals. Most customers do not think twice before sharing their data to avail these offers. However they do not realise that this is not only a breach of privacy but an invitation to hack bank accounts.

“It is really terrible if you give your name, number and DOB to someone - it means you have given him more than 50% of your information,” says a cyber crime expert.

He further explains that in most of the Know Your Customer (
KYC<\/a>) cases, DOB is prominent. Someone can actually issue a duplicate SIM-card by accessing your name, number and DOB. Duplicate SIM cards can give easy access to a customer’s bank account because most of the banks send one-time password, or OTP,to the customer’s number, which helps to change the account password.

\"\"
<\/span><\/figcaption><\/figure>Fintechs: Prime Buyers<\/strong>

I recently met an official from a
Fintech<\/a> company that is into credit business. They claim they disburse loans within an hour. I asked them how they analysed the risk.

“We have more than 100 data points of customers,” the company official said.

They obtain customers’ information from more than 100 sources such as the customer’s itemized mobile bills, her bill payment cycle, her credit card spending and the the cycle of paying back, her banking transactions, her travel, shopping pattern etc. But how do they obtain this data?

“Personal data is easily available in unregulated markets. From online tech portals, from hotels, from retail stores and membership schemes, customer profiles is available,\" says Mr. Grover.

That means your data is not safe anywhere. And the demand for data is high in the market because new age start-ups and Fintechs are looking for it. There is no doubt that because of the increase in data demand, data sellers have increased in the market. These start-ups and Fintechs obtain the data and map the digital footprint of the customers.

\"\"
<\/span><\/figcaption><\/figure>By looking at the itemized bills and many other data points these tech companies can predict an almost accurate analysis of a customer -Is she looking for a loan? Will she repay? Will she shop? Does she enjoy partying? Is she healthy? And the list goes on.

‘Companies should have a methodology to prevent data theft. Most organizations consider this as an expense than investment. And speaking specifically about start-ups, they don’t have enough funds and they compromise on security,” says Ms Bhasin.

When these tech companies are able to predict the future of customers with such startling accuracy, one cannot imagine how much data has been compromised.

Search & be Found
<\/strong>
I wanted to buy a water purifier and was googleing for a suitable product. When I finished my search, I had a few mails from Justdial about water purifier dealers in nearby places.

I visited a swimming pool in Vashi, in Navi Mumbai. When I came out, Google had asked me for my views on the swimming pool. This happened when I had neither used the map nor booked any cab. Google follows you like a shadow.

Recently, Google CEO Sundar Pichai testified before Congress on Google Plus’ data breaches. Representative Ted Poe (R) asked him, If I go from here to there, does Google track my movement? Mr. Pichai said “Not by default,”

A friend of mine went to Delhi and he was dating a girl. For two days consecutively he booked a cab in the evening and traveled to meet her at the same place. On the third day, Google asked him if he would like to meet her.

Smartphones are not just mapping us but also listening to our conversations carefully. Based on conversations, they tailor make ads for us. I was talking to a friend about car perfume. And before I knew it, I was connected to several ads related to car perfume.

In the world of social media, we know more about sharing but less about saving our privacy. Your one-thumbs up, which shows your liking, is analyzed by some algorithms and things of your liking will be displayed to you. The problem is not about using social media or sharing your number at the shopping mall, it’s about data misuse.

Personal data is easily available in unregulated markets. From online tech portals, from hotels, from retail stores and membership schemes, customer profiles is available.Susheem Grover, Cyber Security Lead, Visa<\/cite><\/div><\/blockquote>
Regulations: A Reality Check
<\/strong>
In a world where data has become ubiquitous, what legal protections are available to the citizens? While globally regulations have been drafted to protect data misuse, in India it’s still work in progress.

In May 2017, Europe implemented the General
Data Protection<\/a> Regulation (GDPR<\/a>). GDPR restricts misuse of its citizens’ privacy. Under GDPR, strong penalties have been imposed on the companies misusing data. GDPR restricts marketing or sales companies from reaching out to its citizens without consent. Importantly, if a company collects customer’s data for a specific purpose, GDPR mandates it cannot be used for any other purpose. Most significantly, under GDPR the data protection is the responsibility of those collecting it.

In India, there are some regulations against data theft but that’s not enough. A top officer from UIDAI, which issues Aadhaar numbers, famously said that Aadhaar breach was a myth. Last year, in a public challenge thrown by Telecom Regulatory Authority of India chief RS Sharma,hackers, with merely the chief’s Aadhaar number accessed his other details in an embarrassingly short time.

“Under section 43 of IT Act, data theft is an unauthorized practice that is a punishable offence. It is considered as a criminal activity and a penalty of Rs 1 crore can be imposed. Also, under the India in Penal Code (IPC), theft becomes an offence, so punishment in the form of imprisonment fine can both be imposed,” says Ms Bhasin.

India is working a data protection bill. The government has tried its best to make it as strong as possible. In fact, it also restricts companies from storing data outside the country. The bill is yet to be passed in Parliament. In the meantime, government and police officers use the IT Act to battle cybercrime.

\"\"
<\/span><\/figcaption><\/figure>In many cases, data has been obtained unknowingly from people and sold to buyers.A telecom company will not provide you an itemized bill for your parent’s number but a fintech company knows your entire bill history and calling behavior.

“Organizational data theft is the biggest data theft. When employees change their jobs, they carry the company data with them,” adds Ms Bhasin

Currently, everybody is in a mad rush to acquire data and map the customer’s personality and behavior using algorithms. The biggest worry going ahead is an identity theft.

When we are sharing our identity and contacts at so many places, most people are oblivious how easily someone can clone it and use their identity. Instances of buying products or availing government benefits that require identification is common; something that UID digital authentication aimed at addressing in India,” Adds Mr Grover

And sour increasing dependence on technology and smartphones has given the owners of data unimaginable power as they invade individual privacy every moment. Unless strong regulations are in place, data misuse will only grow uncontrollably like the monster that Frankenstein unleashed.
<\/body>","next_sibling":[{"msid":91613091,"title":"Google faces lawsuit for using NHS data of 1.6 mn people in UK","entity_type":"ARTICLE","link":"\/news\/google-faces-lawsuit-for-using-nhs-data-of-1-6-mn-people-in-uk\/91613091","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":91613204,"entity_type":"ARTICLE","title":"With Data, You are on Sale","synopsis":"You may be familiar with this situation \u2013 you see an unknown number flashing on your mobile phone screen,it does not look like a call center number and so you receive it. ","titleseo":"telecomnews\/with-data-you-are-on-sale","status":"ACTIVE","authors":[{"author_name":"Amol Dethe","author_link":"\/author\/479252893\/amol-dethe","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252893.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479252893,"author_name":"Amol Dethe","author_seo_name":"amol-dethe","designation":"Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ETBFSI","artdate":"2022-05-17 12:44:59","lastupd":"2022-05-17 12:47:27","breadcrumbTags":["data","internet","google","security","KYC","regulations","Data Protection","FinTech","GDPR","data theft"],"secinfo":{"seolocation":"telecomnews\/with-data-you-are-on-sale"}}" data-authors="[" amol dethe"]" data-category-name="" data-category_id="" data-date="2022-05-17" data-index="article_1">

了数据,你在出售

你可能熟悉这种情况——你看到一个未知号码你的手机屏幕上闪烁,它看起来不像一个呼叫中心的号码,所以你收到它。

阿莫勒Dethe
  • 2022年5月17日更新47点是
你还记得《弗兰肯斯坦》的故事吗?弗兰肯斯坦创造了一个怪物,但不知道如何驯服它当怪物开始失控,甚至开始杀人。我们似乎已经创建了一个类似的怪物数据,不过这一次不是局限于小说的安全。

你可能熟悉这种情况——你看到一个未知号码你的手机屏幕上闪烁,它看起来不像一个呼叫中心的号码,所以你收到它。但你所听到的是预先录制好的球场从一些公司出售金融产品或其他东西。卖家发现创新的方法来达到潜在买家既然人是发现,忽略了呼叫中心的电话号码。我们都知道,请勿打扰(DND)入学,阻止几个数字或添加到垃圾邮件文件夹不是很有帮助。

广告
有没有想过无数人访问我们的个人信息?怎么能谷歌或各种移动应用程序为您提供最好的交易在某一天你最喜欢的餐馆?我们在ETBFSI决定深入。我们采访了初创企业,安装移动应用,前往购物中心和餐厅发现了可怕的真相如何我们都不断受到监视。

手机是脆弱的

有许多人是好与红衣主教的方向。我不是。所以,我下载“指南针”的移动应用程序在任何时候帮助你找出方向。安装应用程序时出现的问题,“让罗盘拍照和记录视频”?另一个移动应用程序,安装“天气”,我理解太阳的科学价值还想允许访问我的照片。指南针或天气并不是唯一的。

Bhim、政府的UPI驱动旗手应用支付转让或IPPB,付款银行名称任何应用程序,他们都想要访问的照片和媒体文件在你的手机上。我强调的照片和图片,因为他们已经进入联系人列表。几乎每一个移动应用设计只允许访问如果你牺牲你的个人信息。

支付公司访问我的联系人,短信或电话声音有关,但他们想要我的照片和媒体文件吗?指南针应用为什么需要我的照片直接我东或西吗?看着我的媒体文件如何帮助天气应用程序给我当天的天气预报吗?我需要的答案。

“原因是他们实现追踪工具在你的设备。你同意它,因为你没有选择。在android智能手机,你是否同意与否,任何数据。他们正试图建立一个数据库,他们会把它卖给其他组织。他们提供你一个免费的服务,当你自己是一个产品,你做的每件事都减价出售。你的意见是销售”,医学院毕业Bhasin说&创始人Cyberjure法律咨询。

广告
根据一个研究和咨询公司Gartner,移动应用的数据是最脆弱的妥协。黑客和的机会数据失窃移动应用程序都高于桌面。
“人们允许或授权应用程序制造商的所有权限下载手机应用程序的时候,不知道手机应用程序可以做你的手机,“说IT研究公司分析师拒绝透露姓名。

购物中心:中心数据盗窃

我在购物中心买了一件衬衫。在计费柜台,工作人员问我要我的电话号码和出生日期(捐赠)。我拒绝了。他坚持要我的手机号码说否则系统不开放。我问他们为什么需要我的电话号码和我的罗伯特?我们从我们的客户,我们希望他们创建数据在他们的生日,他说。当我坚决拒绝分享细节,员工进入一些数量和销售。当你去购物的时候,它已经成为强制性的分享与商店这个关键数据。想象店主每年收集多少数据!

“由于缺乏数据隐私规定在印度像GDPR;当你分享你的手机和电子邮件联系酒店、零售商店等,他们将开始促销活动。客户身份,他们花和接触使业务分析一组非常有价值。没有他们将如何使用数据的透明度,”说,Susheem Grover网络安全在签证

吸引顾客,购物中心有足够的武器救赎等点,奖励,并提供对新来的人。大多数客户不三思而后行分享他们的数据利用这些报价。但是他们没有意识到,这不仅是一种违反隐私但邀请破解银行账户。

“这真的是可怕的,如果你给你的名字,数量和捐助的人——这意味着你给他50%以上的信息,“网络犯罪专家说。

他进一步解释说,在大多数的了解你的客户(什么水平)情况下,罗伯特是突出。有人可以发出重复的sim卡通过访问你的姓名,号码和强加于人。重复的SIM卡可以轻松访问客户的银行账户,因为大多数的银行发送一次性密码,或OTP,客户的数量,这有助于改变帐户密码。

Fintechs:优质买家

我最近遇到的一位官员Fintech公司信贷业务。他们声称他们在一小时内支付贷款。我问他们他们如何分析了风险。

“我们有超过100数据点的客户,”该公司官员说。

他们获取客户的信息来自100多个来源如客户的分项移动账单,账单支付周期,她的信用卡支出和偿还的循环,她的银行交易,她的旅行、购物模式等。但他们如何获得这些数据?

“个人数据很容易可以在不受监管的市场。从在线科技门户网站、酒店、零售商店和会员计划,客户资料是可用的,”格罗弗先生说。

这意味着你的数据是不安全的。市场和对数据的需求是高的,因为新时代初创企业和Fintechs正在寻找它。毫无疑问,因为增加的数据需求,数据卖家在市场上增加了。这些初创企业和Fintechs获得数据和地图的数字足迹的客户。

通过查看分项账单和许多其他数据点这些科技公司几乎可以预测准确分析客户——她寻找贷款吗?她会偿还吗?她会商店吗?她喜欢聚会吗?她健康吗?这样的例子不胜枚举。

企业应该有一个方法,以防止数据失窃。大多数组织认为这比投资费用。说到关于创业,他们没有足够的资金,他们在安全妥协,”哈女士说。

当这些科技公司能够预测未来的客户有这样惊人的准确性,无法想象一个多少数据已经受损。

搜索和发现

我想买一个净水器,是谷歌的一个合适的产品。当我完成了我的搜索,我有一些邮件从Justdial净水器经销商在附近的地方。

我参观了一个游泳池Vashi,纳孟买。当我出来时,谷歌已经要求我的意见游泳池。这一切都发生在我既没有使用地图也没有任何出租车预订。谷歌之前,你像一个影子。

最近,谷歌首席执行官Sundar Pichai在国会作证词Google +的数据泄露。代表Ted坡(R)问他,如果我从这里到那里,谷歌追踪我的运动吗?Pichai说“不默认情况下,”

我的一个朋友去德里和他约会一个女孩。连续两天晚上他预订一辆出租车在同一个地方,去满足她。第三天,谷歌问他是否想见到她。

智能手机不仅仅是映射我们也仔细听我们的谈话。基于对话,他们裁缝为我们做广告。我和一个朋友讨论汽车香水。在我知道它之前,我与几个广告相关汽车香水。

在社交媒体的世界中,我们知道更多关于共享但不是拯救我们的隐私。你one-thumbs,显示你的喜好,分析了算法和一些你的喜欢会显示给你。这个问题不是关于使用社会媒体或分享你的号码在购物中心,它是关于数据误用。

个人数据很容易可以在不受监管的市场。从在线科技门户网站、酒店、零售商店和会员计划,客户档案。Susheem Grover、网络安全铅、签证

规定:一个现实

在这样一个世界,数据已成为无处不在的,公民法律保护可用于什么?虽然全球法规起草保护数据误用,在印度还是在进步。

2017年5月,欧洲实现了一般数据保护规定(GDPR)。GDPR限制滥用其公民的隐私。GDPR之下,强大的处罚已经对企业滥用数据。GDPR限制市场或销售公司接触市民不同意。重要的是,如果一个公司收集客户的数据为一个特定的目的,GDPR授权不得用于任何其他目的。最重要的是,在GDPR这些收集的数据保护负责。

在印度,有一些规则对数据盗窃但这是不够的。从UIDAI高级军官,这问题Aadhaar的数字,有句名言:Aadhaar违反是一个神话。去年,在公共抛出的挑战印度电信管理局首席RS Sharma黑客,只是首席的Aadhaar号码访问他的其他细节令人难堪的短的时间。

“在这法的43个部分、数据盗窃是一个未经授权的实践,是一个惩罚犯罪。它被认为是犯罪活动和一个点球1卢比的罚款。还在印度刑法典(IPC),盗窃成为一种犯罪行为,所以处罚监禁的形式都可以罚款,”哈女士说。

印度正在数据保护法案。政府已经试过最好的使它尽可能的强大。事实上,这也限制了国外公司存储数据。法案在国会尚未通过。与此同时,政府和警察使用它采取行动,打击网络犯罪。

在许多情况下,获得的数据已经不知不觉地从人,卖给买家。电信公司不会提供你一个分项费用你的父母的号码但fintech公司知道你的整个法案历史和调用行为。

“组织数据盗窃是最大的数据盗窃。当员工改变他们的工作,他们把公司的数据,”哈女士补充道

目前,每个人都在疯狂收购数据和地图使用算法客户的个性和行为。最大的担忧继续是一个身份盗窃。

当我们分享我们的身份和联系在很多地方,大多数人都忘记了如何轻松地人可以克隆和使用他们的身份。购买产品的实例或主张政府福利,需要识别是很常见的;东西UID数字认证旨在解决在印度,”格罗弗先生补充说

和酸越来越依赖技术和智能手机给了业主的数据难以想象的力量,因为他们侵犯个人隐私的每一刻。除非强劲的规定,数据滥用只会像弗兰肯斯坦的怪物释放肆意地生长。
  • 2022年5月17日发表是44点
是第一个发表评论。
现在评论

加入2 m +行业专业人士的社区

订阅我们的通讯最新见解与分析。乐动扑克

下载ETTelec乐动娱乐招聘om应用

  • 得到实时更新
  • 保存您最喜爱的文章
扫描下载应用程序
\"\"
<\/span><\/figcaption><\/figure>Do you remember the story of Frankenstein? Frankenstein creates a monster, but doesn’t know how to tame it when the monster begins to get out of hand and even starts killing people. We seem to have created a similar monster with data<\/a>, only this time it’s not confined to the safety of fiction.

You may be familiar with this situation – you see an unknown number flashing on your mobile phone screen,it does not look like a call center number and so you receive it. But what you hear is the pre-recorded pitch from some company selling financial products or something else. Sellers have found innovative ways to reach potential buyers now that people have wisened up to spotting and ignoring calls from call centre numbers. We all know that enrolling for Do Not Disturb (DND), blocking a few numbers or adding them into the spam folder is not very helpful.

Have you ever wondered how innumerable people access our personal information? How can
Google<\/a> or various mobile apps offer you the best deals on a particular day at your favourite restaurant? We at ETBFSI decided to dig deeper. We spoke to start-ups, installed mobile apps, traveled to shopping malls and restaurants to discover the scary truth of how we are all under constant surveillance.

‘Mobiles are Vulnerable’

<\/strong>There are many who are good with cardinal directions.I am not. So, I downloaded ‘Compass’ a mobile application which helps you figure out the directions at any point. While installing the application a question popped up, “Allow Compass to take pictures and record videos”?Another mobile application, ‘Weather’, that I installed to understand the scientific value of the sun also wanted permission to access my photos. Compass or Weather are not unique that way.
\"\"
<\/span><\/figcaption><\/figure>
Be it Bhim,the government’s UPI driven flag bearer app for payment transfer or IPPB, a payment bank, name any app and they all want access to the photos and media files on your phone. I stress on photos and images because they already have access to the contact list. Almost every mobile app has been designed to allow access only if you make it a sacrifice of your personal information.

Payment companies accessing my contacts, SMS or phone call sounds relevant but what do they want with my photos and media files? Why does the Compass app need my photos to direct me East or West?How will looking at my media files help the Weather app to give me the day’s weather forecast? I needed answers.

“The reason is they are implementing a tracking tool on your device. You are consenting to it, because you don’t have a choice. In android smartphones, whether you consent to it or not, any which way they have your data. They are trying to build a data base and they will sell it to other organizations. So, they are providing you a free service when you yourself are a product and everything you do is on sale. Your opinion is on sale,”says Puneet Bhasin, President & Founder, Cyberjure Legal Consulting.

\"\"
<\/span><\/figcaption><\/figure>According to a research and consultancy firm Gartner, mobile applications are the most vulnerable to data compromise. Chances of hacking and data theft<\/a> of mobile application are higher than on desktops.
“People allow or grant all the permissions to app makers while downloading the mobile app, without knowing what a mobile app can do to your phones,” says an IT analyst from a research firm declining to be named.

Shopping Malls: A Hub for Data Theft<\/strong>

I bought a shirt at a shopping centre. At the billing counter, the staff asked me for my number and date of birth (DOB). I refused. He insisted on my mobile number saying otherwise the system would not open. I asked why they needed my number and my DOB? We create data from our customers and we wish them on their birthdays, he said. When I firmly refused to share the details, the staff entered some number and made the sale. When you shop, it has become mandatory to share this critical data with the shop. Imagine how much data the shop owner collects every year!

“Due to lack of data privacy
regulations<\/a> in India like GDPR; The moment you share your mobile and email contact with hotels, retail stores, etc they will start the promotional activity. Customer identity, their spend and contacts makes a very valuable set for business profiling. There is no transparency in how will they use the data,” says, Susheem Grover, Cyber Security<\/a> Lead at Visa

To lure customers, shopping malls have enough weapons such as redemption of points, rewards, and offers on fresh arrivals. Most customers do not think twice before sharing their data to avail these offers. However they do not realise that this is not only a breach of privacy but an invitation to hack bank accounts.

“It is really terrible if you give your name, number and DOB to someone - it means you have given him more than 50% of your information,” says a cyber crime expert.

He further explains that in most of the Know Your Customer (
KYC<\/a>) cases, DOB is prominent. Someone can actually issue a duplicate SIM-card by accessing your name, number and DOB. Duplicate SIM cards can give easy access to a customer’s bank account because most of the banks send one-time password, or OTP,to the customer’s number, which helps to change the account password.

\"\"
<\/span><\/figcaption><\/figure>Fintechs: Prime Buyers<\/strong>

I recently met an official from a
Fintech<\/a> company that is into credit business. They claim they disburse loans within an hour. I asked them how they analysed the risk.

“We have more than 100 data points of customers,” the company official said.

They obtain customers’ information from more than 100 sources such as the customer’s itemized mobile bills, her bill payment cycle, her credit card spending and the the cycle of paying back, her banking transactions, her travel, shopping pattern etc. But how do they obtain this data?

“Personal data is easily available in unregulated markets. From online tech portals, from hotels, from retail stores and membership schemes, customer profiles is available,\" says Mr. Grover.

That means your data is not safe anywhere. And the demand for data is high in the market because new age start-ups and Fintechs are looking for it. There is no doubt that because of the increase in data demand, data sellers have increased in the market. These start-ups and Fintechs obtain the data and map the digital footprint of the customers.

\"\"
<\/span><\/figcaption><\/figure>By looking at the itemized bills and many other data points these tech companies can predict an almost accurate analysis of a customer -Is she looking for a loan? Will she repay? Will she shop? Does she enjoy partying? Is she healthy? And the list goes on.

‘Companies should have a methodology to prevent data theft. Most organizations consider this as an expense than investment. And speaking specifically about start-ups, they don’t have enough funds and they compromise on security,” says Ms Bhasin.

When these tech companies are able to predict the future of customers with such startling accuracy, one cannot imagine how much data has been compromised.

Search & be Found
<\/strong>
I wanted to buy a water purifier and was googleing for a suitable product. When I finished my search, I had a few mails from Justdial about water purifier dealers in nearby places.

I visited a swimming pool in Vashi, in Navi Mumbai. When I came out, Google had asked me for my views on the swimming pool. This happened when I had neither used the map nor booked any cab. Google follows you like a shadow.

Recently, Google CEO Sundar Pichai testified before Congress on Google Plus’ data breaches. Representative Ted Poe (R) asked him, If I go from here to there, does Google track my movement? Mr. Pichai said “Not by default,”

A friend of mine went to Delhi and he was dating a girl. For two days consecutively he booked a cab in the evening and traveled to meet her at the same place. On the third day, Google asked him if he would like to meet her.

Smartphones are not just mapping us but also listening to our conversations carefully. Based on conversations, they tailor make ads for us. I was talking to a friend about car perfume. And before I knew it, I was connected to several ads related to car perfume.

In the world of social media, we know more about sharing but less about saving our privacy. Your one-thumbs up, which shows your liking, is analyzed by some algorithms and things of your liking will be displayed to you. The problem is not about using social media or sharing your number at the shopping mall, it’s about data misuse.

Personal data is easily available in unregulated markets. From online tech portals, from hotels, from retail stores and membership schemes, customer profiles is available.Susheem Grover, Cyber Security Lead, Visa<\/cite><\/div><\/blockquote>
Regulations: A Reality Check
<\/strong>
In a world where data has become ubiquitous, what legal protections are available to the citizens? While globally regulations have been drafted to protect data misuse, in India it’s still work in progress.

In May 2017, Europe implemented the General
Data Protection<\/a> Regulation (GDPR<\/a>). GDPR restricts misuse of its citizens’ privacy. Under GDPR, strong penalties have been imposed on the companies misusing data. GDPR restricts marketing or sales companies from reaching out to its citizens without consent. Importantly, if a company collects customer’s data for a specific purpose, GDPR mandates it cannot be used for any other purpose. Most significantly, under GDPR the data protection is the responsibility of those collecting it.

In India, there are some regulations against data theft but that’s not enough. A top officer from UIDAI, which issues Aadhaar numbers, famously said that Aadhaar breach was a myth. Last year, in a public challenge thrown by Telecom Regulatory Authority of India chief RS Sharma,hackers, with merely the chief’s Aadhaar number accessed his other details in an embarrassingly short time.

“Under section 43 of IT Act, data theft is an unauthorized practice that is a punishable offence. It is considered as a criminal activity and a penalty of Rs 1 crore can be imposed. Also, under the India in Penal Code (IPC), theft becomes an offence, so punishment in the form of imprisonment fine can both be imposed,” says Ms Bhasin.

India is working a data protection bill. The government has tried its best to make it as strong as possible. In fact, it also restricts companies from storing data outside the country. The bill is yet to be passed in Parliament. In the meantime, government and police officers use the IT Act to battle cybercrime.

\"\"
<\/span><\/figcaption><\/figure>In many cases, data has been obtained unknowingly from people and sold to buyers.A telecom company will not provide you an itemized bill for your parent’s number but a fintech company knows your entire bill history and calling behavior.

“Organizational data theft is the biggest data theft. When employees change their jobs, they carry the company data with them,” adds Ms Bhasin

Currently, everybody is in a mad rush to acquire data and map the customer’s personality and behavior using algorithms. The biggest worry going ahead is an identity theft.

When we are sharing our identity and contacts at so many places, most people are oblivious how easily someone can clone it and use their identity. Instances of buying products or availing government benefits that require identification is common; something that UID digital authentication aimed at addressing in India,” Adds Mr Grover

And sour increasing dependence on technology and smartphones has given the owners of data unimaginable power as they invade individual privacy every moment. Unless strong regulations are in place, data misuse will only grow uncontrollably like the monster that Frankenstein unleashed.
<\/body>","next_sibling":[{"msid":91613091,"title":"Google faces lawsuit for using NHS data of 1.6 mn people in UK","entity_type":"ARTICLE","link":"\/news\/google-faces-lawsuit-for-using-nhs-data-of-1-6-mn-people-in-uk\/91613091","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":91613204,"entity_type":"ARTICLE","title":"With Data, You are on Sale","synopsis":"You may be familiar with this situation \u2013 you see an unknown number flashing on your mobile phone screen,it does not look like a call center number and so you receive it. ","titleseo":"telecomnews\/with-data-you-are-on-sale","status":"ACTIVE","authors":[{"author_name":"Amol Dethe","author_link":"\/author\/479252893\/amol-dethe","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252893.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479252893,"author_name":"Amol Dethe","author_seo_name":"amol-dethe","designation":"Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ETBFSI","artdate":"2022-05-17 12:44:59","lastupd":"2022-05-17 12:47:27","breadcrumbTags":["data","internet","google","security","KYC","regulations","Data Protection","FinTech","GDPR","data theft"],"secinfo":{"seolocation":"telecomnews\/with-data-you-are-on-sale"}}" data-news_link="//www.iser-br.com/news/with-data-you-are-on-sale/91613204">