Supermarket chain Coles may enter the banking market, The Sydney Morning Herald reports, which could give it the “ultimate” data bank of consumer information, raising concerns among privacy advocates. Pulse Marketing Founder Lauren Fried said, “With this data, retailers would know absolutely every movement we had, and then they could target us effectively.” A representative from the Australian Privacy Foundation said there are no existing laws to prevent the company from combining its data on shoppers and banking clients.
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