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The Office of Fair Trading (OFT) is giving Internet companies a chance to oversee their behavioral advertising practices, The Guardian reports, but is also putting plans in place for more regulations, if necessary. The OFT, which launched an investigation last year into how companies use data gleaned from the Internet habits and personal information shared by Web users to target advertising, announced Tuesday that it will back a self-regulatory approach through the Internet Advertising Bureau. However, referencing concerns about privacy issues and the misuse of personal data, the OFT is also working with the Information Commissioner's Office to strengthen regulations "should industry action prove ineffective."
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