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Company Accused of Selling User Data Shuts Down After $104 Million Settlement (bleepingcomputer.com) 35

Catalin Cimpanu, reporting for BleepingComputer: The Federal Trade Commission has shut down the operator of a large network of online loan sites that promised to find people the loans with the lowest rates, but actually sold users' data to third-parties, most of which weren't even lenders. The target of FTC's ire is a company named Blue Global Media, LLC and its CEO, Christopher Kay, against which the FTC filed an official complaint last Monday, July 3. According to the FTC, since 2012 Blue Global Media operated a network of 38 websites that promised users to match them with the best payday, personal, or auto loans using Blue Global Media's proprietary technology. Hoping to find loans with the smaller interest rate and friendlier terms, users entered a slew of personal details on Blue Global Media's websites, such as names, email addresses, home addresses, phone numbers, Social Security numbers, financial and banking information, driver's license, state ID numbers, income data, military status, home ownership info, and many other more.
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Company Accused of Selling User Data Shuts Down After $104 Million Settlement

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  • by xxxJonBoyxxx ( 565205 ) on Monday July 10, 2017 @01:45PM (#54780283)
    I wonder if their name was "Blue Global BANK" if things would be different. When I open an account (or draw a new loan) at most banks these days I have to opt-out of similar data sharing arrangements with "partners" - and the few times I've forgotten I've gotten numerous calls from financial planners, insurance reps and other third parties.
    • Or an information broker like Acxiom. That company, and its competitors, do exactly what this company does.

  • I approve.

    As long as we maintain good unemployment benefits and job placement programs for the displaced workers, that is.

    As scummy as this company was, most of the employees were regular people who did nothing wrong.

    • As scummy as this company was, most of the employees were regular people who did nothing wrong.

      Except "follow orders". I swear there is a historical reference for this type of defense...

      We really need to get out of this mentality that a company or corporation is "someone", or anyone, besides the people who run it/work for it.

  • They have been hiring spammers to advertise for years. They have been sued for illegal spam.

    Why would anyone provide such confidential information to a spammer?

  • I bet they made 10x that, so it was still no real deterrent.

    Who's going to jail in the CxO level of that company? If there were VCs funding them, which ones, and are they being fined as well enough to make it hurt?
    Are any of the other parties that bankrolled them being punished?

    And is the $104M actually going to do to people who might need those loans, or to rich lawyers?

  • If I buy a stolen bicycle, even if I did not know it was stolen, they will take that bike away. What about the data that was sold? Are they now requested to delete it? Or is it ok to use data that is obtained via something illegal? Could they sell it themselves now?

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