Are finance apps stealing your personal data?

 

Simon Read Author Biography

Simon Read

Simon Read is Personal Finance Editor at The Independent. He edits the Saturday Your Money section as well as writing for the news and business pages of the Independent and i newspaper.

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Saturday 02 June 2012

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Six out of the top 20 most popular iPad finance apps have no privacy policy, meaning your valuable personal data could be at risk.

Research by privacy company ALLOW has revealed that popular apps such as UK tax calculators, UK Salary Calculator and Account Tracker have no policy to protect your personal information.

"There's no doubting that apps are handy and they are fast becoming integral to many people's lives.

"However, what users may not realise is that app developers crave their personal data because it is extremely valuable for marketing purposes," warned Justin Basini, co-founder of Allow.

"Before downloading an app check what personal data the developer collects and what it is used for. Some apps can even track your location and use your camera facility."

Mr Basini's advice? "Check whether the company has a privacy policy If it doesn't, you might be opening yourself up to invasions of your privacy."

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