You have been tricked!

[TechnoFinoTechnoFino is verified member.]

This is exactly what is happening right now. People are giving away their sensitive data just for a few bucks or some coins. Nowadays, a calculator app wants your CIBIL report.

 

[AsB]

Indians (in general) don't value their personal data!

That's it!

How many times, has it been that we throw our most private data like PAN, Aadhar and credit card numbers on any sites that offers us "rewards" for silliest stuffs?

If you are regular readers on this community, you will find countless "tricks and hacks" to get that "cashback" and "rewards".

In exchange these new-age fin-techs gets our data for dirt cheap prices and can use this to design superior products which then will be used to milk us dry!

Don't get me wrong, I do love rewards as well!

Why do you think I am here?!

I also know that all the banks that issue CC's also employ these tactics. But at least they are tightly regulated and have long history to prove that they comply with the law of the land.

But these start-ups which receives funding from foreign countries who knows what their main agenda is behind this funding (apart from crazy profits, of course!).

If tomorrow, Chinesse government wants to know how Indians spend their money, all they have to do is fund an Indian start-up, and pump up the advertisement campaign offering ₹1000 reward on sign ups, and hundreds of thousands of sheeps will come running to grab this so called "opportunity".

This gimmicks does not work in developed countries. Their people are more educated and financially literate than us!

This finally falls on communities like this to spread awareness and encourage people to stop throwing their data for dirt cheap prices!

Yes. This was the reason why I stopped using PayTM completely, despite having one of the best UI. bcoz most of their investments were from China.
But, now htat they are regulated, I started again.
Also, people should not blindly use their PAN/Aadhar details in just any app.
Thanks for this post.
We ca have a dedicated thread for all ongoing frauds as well, if it is benefitial

 

[John123]

Well, Data is the new oil of 21st centuary.

 

[Astraea]

This is exactly what is happening right now. People are giving away their sensitive data just for a few bucks or some coins. Nowadays, a calculator app wants your CIBIL report.

It's concerning that the 2019 data protection bill in India have been Cancelled/discarded as just a piece of paper. It appears that some organizations prioritize their funding and wealth creation over safeguarding our personal information. Therefore, it's crucial to be vigilant and cautious when providing personal data, even to well-known brands like Tata,Relieance etc. Let's take extra care because we must understand that our data is valuable and could be used to generate significant profits for these businesses.

When utilizing tips and tricks to earn small amounts of cashback or reward points through prepaid cards or e-wallets, it's essential to exercise caution. I've come across several threads where users have reported issues in this regard.

@TechnoFino @Wealth is my birth right! @Credit Karma

 

[Wealth is my birth right!]

It's concerning that the 2019 data protection bill in India have been Cancelled/discarded as just a piece of paper. It appears that some organizations prioritize their funding and wealth creation over safeguarding our personal information. Therefore, it's crucial to be vigilant and cautious when providing personal data, even to well-known brands like Tata,Relieance etc. Let's take extra care because we must understand that our data is valuable and could be used to generate significant profits for these businesses.

When utilizing tips and tricks to earn small amounts of cashback or reward points through prepaid cards or e-wallets, it's essential to exercise caution. I've come across several threads where users have reported issues in this regard.

@TechnoFino @Wealth is my birth right! @Credit Karma

True particularly new start ups which give prepaid card loaded by cc then use it are getting closed their business after few months which well collects all our data by the name of kyc

 

[AsB]

It's concerning that the 2019 data protection bill in India have been Cancelled/discarded as just a piece of paper.

I dont think Data Protection Bill has been cancelled. It's is being revamped which will help both consumers and companies

 

[Astraea]

I dont think Data Protection Bill has been cancelled. It's is being revamped which will help both consumers and companies

@AsB The Bill has been cancelled due to the government's push towards digitalization and the importance of data in becoming a leader in the 21st-century digital world. Additionally, many tech giants, such as Google, Amazon, and Flipkart, have also opposed the bill. There are numerous articles discussing this issue.

Ref: https://en.wikipedia.org/wiki/Personal_Data_Protection_Bill,_2019

 

[AsB]

@AsB The Bill has been cancelled due to the government's push towards digitalization and the importance of data in becoming a leader in the 21st-century digital world. Additionally, many tech giants, such as Google, Amazon, and Flipkart, have also opposed the bill. There are numerous articles discussing this issue.

Ref: https://en.wikipedia.org/wiki/Personal_Data_Protection_Bill,_2019

Yes. I read some of the reports when tbe bill was cancelled. For companies like Flipkart and all, most of the data covered in that bill could cause massive downflow of data, just like it happened with Facebook and iPhone.
As far as I know, new Data Protection bill os being formulated.

 

[Credit Karma]

This is exactly what is happening right now. People are giving away their sensitive data just for a few bucks or some coins. Nowadays, a calculator app wants your CIBIL report.

Yes and if it advertises under "referral and rewards" people will not only jump at the first chance they get to share their own data, but will provide access to their complete contact list, thereby exposing otherwise careful users who don't easily fall for it.

And this thought frightens me to the core! 😱

I humbly urge moderators to pin this thread here in general discussions and in rewards so that people will at least be aware of what they are getting into.

 

[Pramtesh]

This is exactly what is happening right now. People are giving away their sensitive data just for a few bucks or some coins. Nowadays, a calculator app wants your CIBIL report.

To reduce or minimise such instances, We should stop tagging banks unnecessary. Unless its a strong complaint. Few days ago I retweeted a comment on SBI Card. Immediately fraudsters replied.

 

[saleems]

I have a simple point. How is it that collecting data leading to scams or how is it a mistake in the behalf of the consumers?


Maybe they guessed. It's not difficult to guess that people will take loans when their income don't match their expenses. Regardless, scam happens when the feeble common people are advertised something and results are not delivered. By collecting data, they know which sector to target, or advertise. But it's not necessarily the data that leads to these scams. It's the gullibility of the common people.


You're specifying 'what' is happening. I am asking the 'how' i.e., how collecting data by TikTok or social media is leading to chaos


Agreed. There is a dire need of regulating data privacy.

Last point is what need to be talk about, data privacy is a main concern here