Can we trust anyone with our data anymore? Between our own governments spying and retailers getting hacked, it feels useless sometimes. And now we have a report that the personal details of over 20 million South Koreans might have been exposed after an employee at a credit ratings firm was arrested on suspicion that they might have taken confidential information and sold it to marketing firms. When will it end?
Marketing firms base their strategies on the behaviors of consumers and that means knowing all about their consumers and having all of our details like age, income, gender, etc. So this stolen information is a huge loss for them. Apparently, the perpetrator was a temporary consultant who worked for the Korea Credit Bureau and the suspect is suspected to have stolen information from a variety of credit cards, like KG Kookmin Card, Lotte Card, and NH Nonghyup Card.
Adding insult to injury, this stolen information was allegedly sold to phone marketing companies. The Korean Financial Supervisory Service promises that the credit card firms will be covering any financial losses that might have occured as a result of the crime. At least there is that.