60% in survey report personal data breach by their loan service provider

Four out of 10 in LocalCircles study point finger towards insurance providers or banks

Several respondents in a survey conducted by LocalCircles said that financial institutions and telecom companies and, more so, their last-mile interfaces were top offenders in compromising their personal data. One of the most common complaints regarding the financial sector has been about people receiving detailed alternate offers about their existing loans, insurance policies and banking. The study received over 41,000 responses from citizens located in over 319 districts of the country.
 

This means that 4 in 10 citizens holding insurance policies received an alternate offer indicating that another person had access to their PAN, Aadhaar and insurance details. What is more:

Most respondents hold the last-mile of financial institutions and in many cases employees responsible for the breach; Believe data protection law must create strong disincentives for compromising personal financial information of citizens.