Massive amounts of data are constantly being generated about
consumers and everything they do online. Data brokers are compiling information
and selling it without fully verifying or authenticating the data. Which in
turn, pulls incorrect results for many consumers. Data brokers sell information
to retailers and marketers, generally, for advertising and market research
purposes. But why are these retailers paying big bucks for information that
isnt accurate?
Acxiom, one of the countrys
largest data brokers, recently revealed a website called AboutTheData.com. This website allows consumers to
view what information is in Acxioms database and verify if its accurate or
not. Acxiom claims to have a massive database that holds information on 190
million consumers. However, much of the information within the database is
incorrect, including information on education level, ethnicity and income
level. There is a potential opportunity for fraud in this website that
threatens consumers who are not aware of it. If an identity thief or fraudster
knows your basic information such as name, address, email address, and last
four of SSN, they are able to access your information and correct it without
any regulation.
When trying this website out, the majority of EVS employees saw many
flaws in their results. Information such as age, birth date, martial status,
children, estimate household income and numerous household interests were
incorrect. There should be a process for retrieving, correcting and
submitting this information that is safe and secure for all consumers and
includes a method of identity
verification and authentication before updates to personal information are
confirmed.
[Contributed by EVS Marketing]
