Alex Omenye
Australia’s competition watchdog requested consumers, businesses, and other key stakeholders for their opinions on the business practices of data brokers on Monday.
In order to compile a report on the industry, the Australian Competition and Consumer Commission will look at the goods and services offered by significant data brokers such as Oracle, Equifax, Experian, a company with its headquarters in Ireland, and LiveRamp, among other companies.
“There is little transparency and awareness of how data brokers operate in Australia despite the vast amounts of information they collect about Australian consumers and the central role they play in enabling the exchange of information between businesses,” ACCC Chair Gina Cass-Gottlieb said.
Data brokers typically collect personal information about clients, such as their browsing and purchase habits, from a variety of sources, including mobile applications, social media websites, and card payment processors.
The research will examine how third-party data brokers gather and use data to develop goods and services, as well as any potential implications for consumers and competition, the ACCC said in a statement.
The regulator’s digital platforms department has been looking into the markets for the supply of digital services for five years, and will continue to do so until 2025.
