Watchdog Calls For Crackdown On Data Brokers

We often like to connect the dots for the HR industry when it comes to data brokers. Data brokers acquire, repackage, resell and monetize data in almost any way imaginable. The three credit reporting bureaus – Equifax, Experian, and TransUnion – are all data brokers. “But wait,” we hear, “is this the same Equifax who owns The Work Number? I send them all my employee data every pay period so they can handle my verifications for me, and they do it for free.” Yes, it is the same company. And the free HR services they provide are one of their best ways to acquire data in bulk which they then resell as a data broker. Often, “If you are not paying for the product, you ARE the product.” This has gone on for years, with little to no transparency.

We hope that, as the article states, the CPFB’s commendable efforts succeed in changing the regulations that govern data usage in the United States. The abuse of privacy rights has gone on for far too long. At Vault Verify, we have a completely different model that respects PII, only uses data for the intended and consented purpose, and fairly compensates employers for the use of data. In just 3 minutes, we can give you all the background info. Once you realize the situation, contact us and we can make adjustments to protect your employee data and provide the absolute best VOEI service available.

“Watchdog Calls For Crackdown On Data Brokers” appeared on Forbes.com on August 16, 2023.