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Cyber Security

Company Accused of Selling User Data Shuts Down after $104 Million Settlement

The Federal Trade Commission has shut down the operator of a network of online loan sites that promised to find people the loans with the lowest rates. Blue Global Media sold 98% of the user data to non-lenders, most of which weren’t even lenders. The FTC filed an official complaint last Monday, July 3, against which the company agreed to a $104 million fine. As per the settlement’s terms, they also filed for a Chapter 7 bankruptcy, effectively agreeing to shut down all operations.

Source: https://www.bleepingcomputer.com/news/legal/company-accused-of-selling-user-data-shuts-down-after-104-million-settlement/

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