Man, I am looking smarter and smarter every day for quitting Facebook and LinkedIn. Can you imagine that your credit rating will suffer for something that you have posted on LinkedIn or Facebook?
Here is the URL of an article of Privacy Violation on these social networking sites:
And here is a reprint of the article in case it goes off line:
Credit agency plans to use Facebook Inc data to form credit ratings
Monday, 11 June 2012 11:25
Schufa is also looking into using information from other sources including Twitter and Linkedin.
Schufa, Germany's largest credit agency, is planning to use data from Facebook Inc (NASDAQ:FB) to form credit ratings, according to leaked documents says to consumer advisory body Which?
As well as pulling information from Facebook pages the agency is looking into using information from other sources including Twitter, Linkedin and Google Street View to assess individual credit ratings.
The documents, leaked to German broadcaster NDR, suggest the agency is planning to use 'crawling techniques' like those used by search engines to find relevant information with aim of 'identifying and assessing the prospects and threats'.
Mark Batistich, a member of the Which? Legal team, said: "Whilst it's not exactly clear what credit checking companies such as Schufa intend to do with data obtained from Facebook, it is certainly possible, at least in the UK, that using such information without consent could be in breach of the Data Protection Act, and also the Facebook Terms and Conditions, which set quite stringent guidelines on what can be done with information obtained from that site."
The plans have drawn criticism from the German consumer protection minister Ilse Aigner as well as justice minister, Sabine Leutheusser-Schnarrenberger, who both said the plans went too far.