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On 23/02/2015 20:46, Jay Bennie wrote: > > I just found this while looking at insurance, is anyone up on the details about > what data is being made "portable"? > > http://www.gocompare.com/money/midata/ > > The general essence of this initiative is to "share" via a centralised government > backed data broker, data to help companies actively match your banking behaviour > with the best products. ... and will share information such as who provides your > mobile phone and utilities. > > Its being presented as a solution to the non competitive markets. > > but seriously this is a !wtf #Featureof1984 as authorised by Teresa May > > and if anything it means the competitors will have enough info to know exactly how > much to price at to get the most out of you. > > J > More intrusive than you think. a)banks and insurers can already access you credit information, e.g. list of all routine payments and one off payments if seller asked for a credit score before accepting you and any delayed or defaulted payment. b) This data puts your even small purchases into a public accessible format. "portable" for all who sign up to using it. Combined with credit card purchases and future EU (tail in car) only small purchase anonymity is in cash or barter. I don't think you can buy a new car for cash though! All purchase or cash movements over GBP10,000 are compulsory reportable, with some banks/insurers/sellers reporting from GBP5,000. c) Main use will be to rack up price to anyone with defaults. "Its being presented as a solution to the non competitive markets" it is also a major use in competitive markets -- regards Eion MacDonald -- The Mailing List for the Devon & Cornwall LUG http://mailman.dclug.org.uk/listinfo/list FAQ: http://www.dcglug.org.uk/listfaq