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The Data Brokers: Selling your personal information

Steve Kroft investigates the multibillion dollar industry that collects, analyzes and sells the personal information of millions of Americans with virtually no oversight.

Over the past six months or so, a huge amount of attention has been paid to government snooping, and the bulk collection and storage of vast amounts of raw data in the name of national security. What most of you don’t know, or are just beginning to realize, is that a much greater and more immediate threat to your privacy is coming from thousands of companies you’ve probably never heard of, in the name of commerce.

Confessions of a Data Broker

Not long ago, data brokers—companies that compile databases of consumer information and then sell them to marketers—toiled in the shadows of media and advertising, seen as largely responsible for those piles of junk mail. Then along came the Internet and the ability to track consumer browsing behavior, enabling data brokers to synch online and offline data. Brokers became the new villain in the privacy debate, subject to investigations by policy makers.

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