New research on the impact of this trade on citizen privacy reveals this alarming trend. Data lawyer Jeffrey Bholasing explains: "Privacy policies offer insufficient protection because consumers are often unable to make well-informed decisions." Bholasing calls for stricter regulations and technological solutions to better safeguard consumer privacy.
More Transparency and Registers for Data Brokers
One of the key recommendations is the introduction of a public register for data brokers in Europe, similar to systems already in place in the U.S. Several U.S. states have implemented mandatory registers where companies dealing in data must be listed. Bholasing says, "Such a register in the EU would provide more transparency and allow consumers to know who is handling and trading their data." This would enable people to make more informed decisions about their data protection.
Technological Standards for Better Protection
Bholasing also advocates for the standardization of technological solutions to make privacy settings easier to manage and universally applicable. "Consumers can set privacy preferences, but it's up to data brokers whether they comply with them," he explains. A European standard would ensure compliance is no longer optional. "This would enhance the privacy protection of citizens, including high-risk public figures."
The Risks of Data Trading for Society
A recent study showed that not only the average citizen but also individuals with heightened risk profiles are insufficiently protected from the effects of data trading. "Even data of politically sensitive individuals were traded by data brokers, jeopardizing their safety," Bholasing states. Through his research, he hopes to contribute to improving digital privacy protection for society as a whole.