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Story summary
- ShopBack, a cashback app, is valued at A$1.4 billion and has 55 million users via bank and retailer partnerships.
- These apps collect extensive user data, including shopping habits, that can be sold without users' knowledge.
- Australian privacy laws, including Privacy Act, aim to protect information, but breaches occur, such as ShopBack's 2020 incident affecting 1.4 million people.
- Consumers should exercise caution when sharing personal and financial information with these platforms.
