Aug 042010
 
 August 4, 2010  Breaches, Business, Non-U.S.

Amy Wong reports:

The chief executive of Hong Kong Octopus Holdings Ltd. has resigned over its scandal of selling almost two million customer’s private data to third party, and the firm will donate HK$44 million ($5.7 million) in revenue to charity.

[…]

The Octopus scandal has escalated with Chan on July 26 admitting that the company had earned HK$44 million in revenue by selling its clients’ personal data to merchants since January 2006.

[…]

Launched in 1997, the Octopus card has been adopted by 95% of people in Hong Kong aged 16 to 65 to travel, shop and dine without the hassle of coins, the company said in its website.

Read more in the International Business Times.

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