Consumers are well aware of the sensitivity of their financial information, but it is still surprising to learn how much we can glean details seemingly unnecessary. MIT researchers have demonstrated that the data containing no personal information can still be connected to the identity of a person.
Customer Identification In some simple facts
An MIT study published in the journal Science revealed that it takes very little information for identifying an individual. With the date, location and the price of four purchases by credit card, the researchers were able to identify 0 percent of people in a pool of 1.1 million customers.
Making less accurate data contributed only marginally. Given a time interval of one week and a pool of 150 stores in a general area rather than the specific location, yet the data have identified more than 70 percent of users. When the price was eliminated from the equation, researchers could still identify more than 40 percent of individuals.
Why the information is valuable
credit card metadata containing information about your purchase history may seem insignificant at first glance, but these data are extremely useful for right people. Marketers can use this information to better understand their customers. He told them what products are most popular, how sales of investment impact, and how purchasing trends change over time. Metadata is also valuable to enforcement agencies of the law because it has the potential to help identify criminals. Metadata has a great potential, but customers are not always comfortable with sharing.
data retention plan for Australia
data retention laws Australia passed that collect and store customer data for the purposes of implementing laws. The law passed 43-16, but not everyone is confident about the new laws. Senator Ludlam said it will "build the case, from today, the repeal of this law." Although the purpose of the legislation is to increase public safety, many see it a violation of privacy for all citizens.
risk to reveal customer data
privacy is a hot topic, especially in America, where 0 percent of people feel they have lost control of their personal information. a fact sheet published by the Office of the Press Secretary warns that consumers who fear for their privacy and anonymity can contribute to a less productive economy. their concerns on data protection can lead to less interaction with technology and innovation slower.
the vulnerability of consumer data is nothing new. a 2013 study found that use of our cell phone makes us easily recognizable as well. Spatiotemporal four items collected from cell phones by support antennas can identify 95 percent of people. A door Tweet 150 points metadata. The information is easily accessible to most anyone who knows how to find and use.
When US Government Steps In
The US government is taking steps to protect consumer data. Notification and Personal Data Protection Act is a legislative proposal that would criminalize the trade in identities. It should also be notified 30 days to the discovery of a data breach. Another legislative proposal, the student digital Protection Act, intended to protect the data collected from students through the use of technology-based educational programs.
There are a growing number of services that make them available to consumers free credit scores. These make it easier for customers to keep an eye on how their most personal information is used, giving them the ability to spot identity theft and fraud early.
How you can protect your anonymity
If you are uncomfortable with the idea of the government or collect marketing data and attaching your buying trends back to you there are steps you can take to increase your anonymity and shop safely. Tokenization is a new payment technology that creates a proprietary token for each purchase, making it difficult for researchers to link your purchases to another. Pay Apple Apple uses this technology. The individual chips are useless because they are designed for single use, unlike a credit card number that is used again and again.
The retention of personal data is increasingly difficult in our digital age, where everything from your online business to the app painted a virtual image purchases of who you are for interested merchants and others by data. Stay ahead of the trends will help you make smart choices to keep your information safer.
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