China’s Black Market of User Data

China’s fintech market has been booming in recent years and now the industry has another concern regarding data privacy; Zhang Yi, chief executive of iiMedia Research, told the FT, “For the most part, these platforms aren’t selling data as their main business or they wouldn’t be able to survive. But employees who manage the data are the main source of data leaks.”; data is being sold on the black market and in most cases it comes from employees of the lender; most lenders say they sell data to third parties but the practice is opaque and not regulated very well. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

Sign In