May 20, 2019

Facebook Data Seems to Help Companies in Knowing about Your Credit Score

Facebook has been found to know the personal credit score of its users. Based on a user's credit score, the data is used to target ads by advertisers.

With the help of the tool "Actionable Insights", Facebook is seen to be sharing data regarding its users' mobile devices with telecom companies. The information it collects includes data about the location, demographic information and also information regarding your friends.

Facebook claims that they have never rated people's credit worthiness for this tool. However, if that is not true than Facebook might well be breaking US laws.

Over the past couple of months, Facebook has already been under a criminal investigation and has also faced fine for privacy violations.