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I met a guy a few days ago that is working as a sales rep in an broker firm. We touched the subject of confidentiality, and he told me that there is an trade in personal information (Nationality, Phone numbers, email, and other stuff etc.) of clients between the sales reps of other companies. He said, this was not instigated by companies, but by the employees themselves are using the information obtained in their companies database to make a side-buck.

Is there any truth to this story?

....it would explain the numerous calls I receive weekly related to investments and insurances....

Some credit card sales persons are doing this. I am not sure about insurances and investments, so far I received such calls only from my banks.

BudW ,

Not only truth its a good business. What do you think social media networs are doing ?

malikmudassar , What social media networks are doing is very different, there I am deciding what goes public or not. With these fraudulent people the decision is not in our hand, and in fact the type of information they would share can cause damage to you if it is used for fraud purposes (like obtaining a loan in your name). How would you like it that people obtain private information like your medical history or credit card details, or passport copies and share these with others, without you have any control? That is in no comparison with how social networks operate.

I Joined a company as Network Admin in Dubai two years back and I was told that they needed to secure their network which I did to my maximum level but What I came to know that before I joined someone cracked into their network and erased all their active database records. Luckily they just lost data for one day as they used to take daily backups but what amazed me is the amount of information they used to have about their clients. There were 7,50,000+ records when the hack was made. This is one example. Rest you are wise.

When you type in any of your information or give it to someone, make no mistake that you are giving it to public one way or other. I still don't have a credit card by the way.

Hope you know what I am talking about.

Haven't you heard of Julian Assange and Wikileaks already?
google, facebook - I wouldn't trust them for one moment.