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Germany: Social media to be used for credit checks

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Germany: Social media to be used for credit checks


Germany’s largest credit agency is coming under fire, after revealing that it plans to gather information from social media websites.

The data would be used to help judge whether individuals can be trusted with loans and other forms of borrowing.

It is reported that Schufa intends to trawl for various details, including relationships and addresses.

There are calls for the agency to make clear its intentions.

“Schufa does not have the right to become the big brother of the economy. It shouldn’t be possible that social media is used for scoring,” said Ilse Aigner, Minister of Consumer Protection.

Schufa has defended its internet plans, saying they fully respect privacy laws.

One tongue-in-cheek comment posted on Twitter read “Dear Schufa, going to buy my new Porsche and then off to drink champagne.”

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