Alternatively putting individuals at risk of scams. The approximate figure of Australian personal info is being shared a total 450 times a day through online ad-tracking systems without their consent or knowledge.
Tech company, Reset Tech, has found that Australian location data is being shared across real time bidding systems and software that have direct access to the ad exchange. Companies are then collecting the mass information of consumer data to share with advertisers for
profits.
Reset Tech explains the RTB system worked each time an individual opened an app and website with an ad, which instantaneously launches an auction to help advertise decide which ad space should bid on. With the recent news of a small Australian business losing $50,000 in recent cyber-attacks, Australia needs to knuckle down on consumer privacy and exposure.
Whiles business system hacking is relatively rare, business account being hacked were more frequent. Currently, Australia has no limits on how this sensitive information is used, which means residents private information can be sold to scammers and foreign actors.
Furthermore, scammers could also buy this information from businesses and further personalize scam ads that can appear to be a tailored service such as an individual’s bank and financial services.
Australian parliament needs to have clear framework that can be used for businesses to process, handle, collect and trade Australian’s data ethically.