Consumer Surveillance and Financial Fraud
In today’s digital economy, firms near constantly collect, analyze, and profit from consumers’ personal information, which might expose consumers to financial fraud. We examine the effects of Apple’s App Tracking Transparency (ATT) policy, which significantly curtailed data collection and sharing on the iOS platform. Using zip code level variation in iOS user shares, we show that ATT substantially reduced fraud complaints. The effects are concentrated in complaints that have more relevant narratives and in complaints about companies engaging in intensive consumer surveillance and lacking data safeguards. Our evidence quantifies one of the main harms of lax privacy standards.
Related
Topics
Programs
Working Groups
Conferences
Mentioned in the News
More from NBER
In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Retirement and Disability, the Bulletin on Health, and the Bulletin on Entrepreneurship — as well as online conference reports, video lectures, and interviews.
