As Congress examines how data brokers collect, aggregate and share consumers’ personal information, a new survey by TrustedID shows that most people are confused about how data brokers operate and want centralized control of how data brokers handle their personal information.
Responses to the survey shed light on the confusing and elusive nature of data broker companies including:
Less than one fifth of consumers have a good understanding of data brokers:
- Only 18% of consumers have significant or complete understanding of how to define a data broker company
- Only 16% of consumers have significant or complete understanding of what information data brokers collect
- Only 20% of consumers have significant or complete understanding of what data brokers do with that information.
Consumers want access to and control over the information data brokers collect:
- 76% of consumers feel that it is important to be notified about information that data brokers collect
- 71% of consumers feel that it is important to be able to access and see information data brokers collect and 77% feel that it is important to be able to modify that information
- 80% of consumers feel that it is important to be able to opt out of the distribution and sale of information or delete the information that data brokers collect.
“Consumers are not aware that, when they do business with many companies, their name, address and purchase data are traded with data brokers, who then resell this information,” said Scott Mitic , Chief Executive Officer, TrustedID. “Our survey supports the notion that consumers want to be made aware of data brokers’ practices and have control over their data. We are actively working to bring transparency and consumer choice to this multi-billion dollar industry.”