We're seriously overvaluing our data, says report

Brits think their personal data is really, really valuable. There is nothing wrong with that, and private data should be valued highly, and guarded as such. However, once criminals get a hold of such data, they'll sell it for such a low price you'd be disgusted.

According to a new TotallyMoney.com report, based on a poll of 1,000 consumers, we value an email address at £983. In reality, it is being sold for five pence.

Similar thing is with browsing history. Its actual price on the black market is a ridiculous £0.0014. On average, we value it at £934.

Men value it more than women, though - £1,057 compared to £817 (a 29 per cent difference).

In total, we value our personal data at £2,031 with millennials (18 – 24) valuing it the highest - £2,152. Companies actually pay £0.45 for it.

The report also offers an interesting reality check. Half of the UK is on Facebook (some 30 million people), yet 40 per cent don't know that the social media giant is actually selling their data to third parties.

‘It’s clear that we have a bit of a knowledge gap when it comes to our own personal data,’ confirms Joe Gardiner from TotallyMoney.com. ‘It pays to be aware of how much we are actually putting out there, whether it’s via social media or otherwise, and to know that third parties have access to it, just by simply buying it. And once you know that social media networks actively sell your personal data on, you might think twice about what you put up there!’

The full report can be found on this link.

Image source: Shutterstock/Wright Studio