The Guardian has followed up on an investigation into companies that offer consumers to sell their personal information, which is then used to open and register sports betting and gambling accounts, the publication informed in an article published on Wednesday, January 1.
Consumers Legally Sell Data to Register Betting Accounts
According to The Guardian, Kent-based Moneyful Ltd, has been offering consumers to make easy money by selling their data over the holiday season. Consumers are allowed to generate thousands of pounds this way, the company explains, as the data is then used to open bookmakers.
Moneyful Ltd asks people who agree to the sale to upload IDs that are usually required from bookmakers, such as proof of address, a driving license, and other identification documents.
Moneyful also remains aboveboard about its practices, by asking people who sell their data to also order Visa debit cards, which are then used to play at gambling accounts. Moneyful pays £100 to customers who agree to sell their data and also pays an additional £100 every time existing sellers refer to another person.
Moneyful is again open about the way it generates revenue, arguing that it uses advanced solutions to make the most out of opening new player accounts at betting and gaming websites. The practice described by The Guardian is bonus hunting, or as bookmakers know it – bonus abuse.
This is the idea that a person will open an account to only claim and play through a bonus in the safest possible way before withdrawing any winnings thereafter. The practise is not illegal in the United Kingdom, but similarly to card counting in Las Vegas casinos, operators tend to ban players who are abusing this system.
The Guardian has also reached out to Cifas director of communications, Simon Miller, whose company is a financial risk advisory group. Miller explained that consumers ought to be wary of anyone who argues they can generate passive income and steer clear of offers that seem too good to be true.
Beware of Selling Your Data to Third Parties
“If you are being asked to hand over sensitive information, we would urge consumers to stop and think and get a second opinion from someone you trust wherever possible,” Miller added. For its part, Moneyful has responded to The Guardian coverage and emphasized that everything the article had described was already on its page.
The general consensus, however, is that people should not be selling their personal information and handing over this information to third parties, even if they are above board and reputable. Moneyful is indeed one of the leading companies with the best-established track record in the United Kingdom.
