Big Tech data harvesting comes under fire by world central bank group

FILE PHOTO: A computer keyboard lit by a displayed cyber code is seen in this illustration picture taken on March 1, 2017. REUTERS/Kacper Pempel/Illustration

LONDON (Reuters) - A paper published by the world's main central bank umbrella group, the BIS, has called for individuals and firms to be given more control over the data collected on them by social media and other Big Tech firms and banks.

The boom in internet-enabled mobile phones, apps and other high-tech gadgets in recent decades has led to an explosion of personal data that firms now harvest, process and sell.