“Yodlee, the largest financial data broker in the U.S., sells data pulled from the bank and credit card transactions of tens of millions of Americans to investment and research firms, detailing where and when people shopped and how much they spent. The company claims that the data is anonymous, but a confidential Yodlee document obtained by Motherboard indicates individual users could be unmasked. The findings come as multiple Senators have urged the Federal Trade Commission (FTC) to investigate Envestnet , which owns Yodlee, for selling Americans’ transaction information without their knowledge or consent, potentially violating the law.”

“India is reviewing an audit report on data practices of WhatsApp Inc. to ensure compliance with local rules before permitting a nationwide debut of the Facebook Inc. -owned company’s long-delayed payments service.  “We have received the data localization compliance system audit report from WhatsApp, which shall be reviewed in the next few weeks,” a Mumbai-based representative for National Payments Corp. of India said without providing any further details.”

“The prospect of a no-deal Brexit is creating new risks for companies that are required to comply with European data-protection rules. If the U.K. separates from the European Union on March 29 without a withdrawal agreement, data transfers from the bloc to the U.K. won’t automatically comply with the EU’s strict privacy laws.

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“We all deserve control over our digital lives. That’s why we must rein in the data brokers. In 2019, it’s time to stand up for the right to privacy—yours, mine, all of ours. Consumers shouldn’t have to tolerate another year of companies irresponsibly amassing huge user profiles, data breaches that seem out of control and the vanishing ability to control our own digital lives.”

“The European Commission has finally given the U.S. a deadline related to the much criticized data transfer mechanism known as the EU-US Privacy Shield . But it’s only asking for the U.S. to nominate a permanent ombudsperson — to handle any EU citizens’ complaints — by February 28, 2019.”

“Royal Bank of Canada defended itself against claims that it was one of a number of major firms provided access to private data in the Messenger app by Facebook Inc., despite earlier assertions by the social media platform that private data was protected. The New York Times reported late Tuesday that the social media platform granted access to private user data, allowing companies like Spotify, Netflix and Royal Bank to read, write and delete private messages from Messenger users.”

“Under the act, data collectors would be required to “reasonably secure” identifying information, to not use that information in a harmful way, and to give notice to consumers about breaches of sensitive information. The requirement extends to third parties, if the data collectors share or sell that data with another entity, and the plan would also give the FTC new authority to fine companies that act deceptively with users’ data.”

“Modern payment processors are making hard choices every day about how and when they’ll stand up for users. Whether they comply with or reject a government request for user data and whether they shut down an account or leave it up can have enormous ramifications for what types of speech can thrive online. These choices shouldn’t be made in a bubble, shielded from public oversight.”

“Cambridge Analytica , a data firm that worked for President Donald Trump’s 2016 campaign, is shutting down following disclosures about its use of Facebook data and the campaign tactics it pitched to clients.”

“On two occasions this past year I’ve published stories here warning about the prospect that new European privacy regulations could result in more spams and scams ending up in your inbox. This post explains in a question and answer format some of the reasoning that went into that prediction, and responds to many of the criticisms leveled against it.”

“The GDPR significantly revises and harmonises how consumers’ personal data shall be protected in the European Union. When it comes to data privacy, payments might be one of the most sensitive areas for consumers.”

“As consumers’ confidence in Facebook to safeguard personal data tumbles — a poll released Wednesday found that 81 percent of respondents had “little or no confidence” that the platform would safeguard their personal data — 62 percent of U.S. customers trust banks with their data. But financial companies in North America realize that customers will soon demand more control over their information, in part because of the influence of European data privacy regulations coming into force this year.”

“The Hangzhou-based firm has begun a step-by-step improvement plan and has already rolled out some measures with approval from the regulator, it said yesterday. The central Hangzhou branch of the People’s Bank of China decided on March 22 to fine the firm CNY180,000 (USD28,568) for a data protection breach and improper promotions, but didn’t announce it until yesterday.”

“Facebook  is facing calls from consumer groups to make the European Union’s incoming GDPR data protection framework the “baseline standard for all Facebook services”. The update to the bloc’s data protection  framework is intended to strengthen consumers’ control over how their personal data is used by bolstering transparency and consent requirements, and beefing up penalties for data breaches and privacy violations.”

“Facebook Inc (FB.O) Chief Executive Mark Zuckerberg said on Tuesday that he agreed “in spirit” with a strict new European Union law on data privacy but stopped short of committing to it as the standard for the social network across the world.”

“On May 25, however, the power balance will shift towards consumers, thanks to a European privacy law that restricts how personal data is collected and handled. The rule, called General Data Protection Regulation or GDPR, focuses on ensuring that users know, understand, and consent to the data collected about them. Under GDPR, pages of fine print won’t suffice. Neither will forcing users to click yes in order to sign up.”