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Firm Publishes 1.2M Investors’ Data Online

FINANCIAL PRIVACY—INDIA

November 22, 2011

Despite Finance Minister Pranab Mukherjee's rejection last year of a proposal from National Intelligence Grid to access details of all bank accounts, the investment firm Power Finance Corp has published the details of 1.2 million of its customers online. Moneylife reports that the data includes names, addresses, phone numbers and e-mail IDs. The exposure has reinforced advocates' data protection concerns with the country's unique ID program. "Privacy law is still being made, and until it is in place, the UIDAI (Unique ID Authority of India) should not be doing what it is, and it certainly cannot be allowed to share information as it proposes to do under the 'information consent' clause in its form," said one privacy advocate.
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