Australia’s watchdog targets data brokers.

Australia’s competition watchdog seeks public input on data brokers

The Australian Competition and Consumer Commission (ACCC) is reaching out to consumers, businesses, and other stakeholders to gather their opinions on the business practices of data brokers. This move is part of the ACCC’s efforts to regulate the digital platform services sector in the country.

The ACCC will be examining the products and services offered by major data brokers such as Oracle, Equifax, Experian, and LiveRamp, among others. The goal is to create a comprehensive report on the sector.

ACCC Chair Gina Cass-Gottlieb highlighted the lack of transparency and awareness surrounding data brokers’ operations in Australia. Despite collecting vast amounts of information about Australian consumers, these brokers remain largely unknown. They play a crucial role in facilitating the exchange of information between businesses.

Data brokers gather personal details and browsing/purchasing behavior from various sources, including mobile apps, social media sites, and card payment providers.

The ACCC’s report will delve into how third-party data brokers collect and utilize information to create their products and services. It will also investigate potential competition and consumer issues arising from these practices.

The ACCC’s digital platforms branch has been conducting a five-year inquiry into the supply of digital services. The report, focusing on businesses that collect and share/sell data from third-party sources, will be submitted to the treasurer in March 2024.

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Rashmi Aich)

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