Cn: Credit Rating Firm Kaola Accused of Privacy Breach

Wu Yujian, Zhang Yuzhe and Han Wei report:

Kaola Credit, the credit rating service of leading payment company Lakala Payment, was accused of illegally storing and selling users’ personal data for millions of dollars, a case underscoring concerns about privacy breaches in the country’s booming fintech sector.

Beijing-based Kaola Credit was among seven companies caught up in a police crackdown on illegal use of personal data in Huai’an, central China’s Jiangsu province, state broadcaster China Central Television (CCTV) reported Wednesday.

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