Why Would Data Broker Sites and Other Organizations Pay for Your Data?

Data broker sites buy and sell your personal information on a daily basis. But why do these data broker sites and other organizations pay for your data? Well, there are a few primary industries that use this data for profit. Here are some of the reasons they’re paying for and want your personal information.

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People Search Sites Buy and Sell Data Directly

People search sites such as MyLife, Spokeo, and Whitepages provide personal information they have collected for free or a small fee. This often includes your name, phone number, addresses past and present, email, hobbies, occupation, property records, and more. These data broker sites can be used to research a person and often come up in Google searches. However, because of the extensive information provided, they can also be used for “doxing” (maliciously revealing identifying information publicly) or stalking, and the information could help someone attempt to commit identity theft. This is why many people choose to opt-out, a sometimes difficult method of information removal from Whitepages and other data broker sites, on a site-by-site basis.

Marketers Buy Data to Learn About You and Better Target Ads

The most common version of this practice is when marketers use demographic information on services like Google and Facebook to target ads. However, marketers can also buy lists of information in order to better target ads. These lists are often categorized by age, income, education level, interests, ethnicity, number of children, and more. Lists could include names, email addresses, and interests, which are often used to tailor marketing, such as emails with coupons.

Some categories are high-risk, based on what a person has previously searched online. It could tip marketers off that you have a medical condition, or the information could be used to advertise high-interest loans instead of low-interest. This can be unreliable, providing false positives if more than one person uses the same computer, and the marketers may not bother correcting the information.

Some Companies Buy Data for Risk Mitigation

Risk mitigation data broker sites assist other companies in identifying and detecting fraud. They are also used, like marketers, to determine whether a person is eligible for a low- or high-risk loan. They might be used to determine if a Social Security number, for instance, is assigned to a deceased person, or is currently used for fraud. Like marketers, problems arise when the information they collect is inaccurate.

Credit Reporting Agencies Are Data Brokers Too

Finally, the most famous data broker sites are credit reporting organizations like Experian, Equifax, and TransUnion. They collect information to assign a credit score, used for applying for loans like a mortgage or car loan. It’s possible to check a credit report for incorrect information and request a correction, but until then, inaccurate information can significantly impact your credit score.

What Can I Do?

Many data broker sites allow you to opt-out of their data collection, at least for a time. If you know how to remove personal information from Google searches, you can help combat the spread of your data. But, opting out of data broker sites is a tedious, time-consuming process and different for each data broker site. A subscription with a service such as DeleteMe sets a team of privacy experts to do the hard work for you, ensuring your information is not being sold to the highest bidder and keeping your personal information private year-round.

About DeleteMe

With more than 20 million consumer opt-outs to date, Boston-based DeleteMe sets a high standard in the information security and online privacy industries. Their expert privacy team uses tested strategies, proprietary technology, and an in-depth knowledge of opt-out and privacy policies to remove your personal details from data broker sites. They can help remove personal information from Google and from over 40 of the biggest data broker sites. A DeleteMe subscription ensures your personal information stays private year-round. 

Learn more about keeping online information private at Joindeleteme.com

Original Source: http://bit.ly/2MWe5gm

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