Latest news with #ICCL
Time of India
4 days ago
- Business
- Time of India
This mutual fund investment platform to shut down from June 30, 2025: What happens to your active SIPs, existing investments?
Piggy, a popular mutual fund investment platform, will cease operations in June. The company has recently notified all its customers through emails about this matter. Several users express concerns regarding the future of their ongoing investments, SIP (Systematic Investment Plan) mandates, and access to tax and transaction records. 'After much reflection, we've decided to discontinue further development and support for the Piggy app and web portal. The platform will go offline 30 days from today,' the company announced in an email on May 30, 2025. The company has clarified various topics through mail to guide customers on managing their SIPs, pending redemptions, and dividend payouts. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Can I transfer my SIP to other MF platforms? It's important to note that SIP mandates cannot be transferred to another platform. You need to set up new SIPs on MF Central, individual AMC websites, or any other investment platform you choose. Live Events What happens to my active Piggy SIPs , can they be transferred? All SIP mandates set up through Piggy will be automatically cancelled between June 15 and 20, 2025, according to the company's email. If you prefer to stop them earlier, you can do so manually through the Piggy app. Alternatively, you can contact your bank to cancel any standing instructions issued in the name of BSE Star or ICCL. Here are the FAQs from the Piggy platform, which customers should note: Do I need to withdraw my money before Piggy shuts down? No. Your mutual fund units live with the fund houses and their RTAs ( CAMS or KFintech). Piggy is just a viewing/transacting layer. Even after our app goes dark, you can: Log in at individual AMC/RTA portals, or their mobile apps. Request a Consolidated Account Statement (CAS) from CAMS or MF Central any time you need a snapshot of all holdings. Bank holidays in June 2025: Check full list of state-wise bank holidays What happens to my active SIPs? Can they be moved? Automatic stop: Every SIP mandate set up through Piggy will be cancelled between 15 and 20 June 2025. Stop it sooner: Open the Piggy app, tap your profile (top-left), go to upcoming events, click on 'Stop SIP.' Bank route: You can also tell your bank to cancel any standing instructions in the name of BSE Star / ICCL. Transfer? Sadly, SIP mandates cannot be ported. You'll need to start fresh SIPs on MF Central, AMC sites, or another platform of your choice. Can I buy or sell from other platforms? Absolutely. Because these are 'physical' (RTA-held) units, any service that supports importing external folios can handle them. Popular options: MF Central (industry-wide) Fund house or RTA portals/apps Third-party investment apps that let you link existing folios (check with their support teams). What about pending redemptions or dividend payouts? Redemption orders placed before Piggy shuts down will be processed normally. Dividends will keep flowing straight to your registered bank account. Piggy's closure doesn't affect AMC payouts. How do I get tax statements after Piggy is gone? Capital gains reports: MF Central and CAMS both offer period-wise capital gains statements. Is my personal data still safe? Yes. We're following standard data-retention rules and will wipe or anonymise what's no longer required by law.
Extra.ie
27-05-2025
- Business
- Extra.ie
Microsoft accused of sharing users' secret data with advertisers
The Irish Council of Civil Liberties was given the go-ahead by the High Court yesterday to bring a case aimed at forcing Microsoft to stop the alleged sharing of sensitive data gleaned from people's internet use with advertisers. The ICCL has taken its action against Microsoft Ireland Operations Ltd, on behalf of all Irish users of Office, Windows, Xbox and other popular products. It is targeting what it describes as a massive data breach 'of millions of people's information' caused by real-time bidding (RTB) within Microsoft's advertising system. It claims that Microsoft's RTB system operates behind the scenes on websites and apps to match advertising to specific people. Pic: Framalicious/Shutterstock James Doherty, counsel for the ICCL, told Judge Barry O'Donnell the system compiles data 'segments' about Irish people based on what they have viewed online. He said these are then auctioned to a series of potential third-party advertisers in 'milliseconds'. He said all of the personal info in those segments, that was processed by Microsoft, was protected by the EU's General Data Protection Regulation (GDPR). This could include information such as whether a person gambles, their finances and debt, their age, sexual interests, whether they have a child or a child with special needs, their medical condition, and even whether they work in a sensitive national security role, the court heard. Mr Doherty said that, by way of example, the ICCL had used an audience discovery tool that allowed it to discover a sample of the data being processed by Microsoft. Pic: Getty Images On May 9, 2025, this tool was able to identify that a segment was processed that related to Irish people who had an interest in online gambling with Paddy Power, the court was told. Mr Doherty said the segment contained 3,918 cookies, over 43,000 advertising identifiers and over 45,000 cached email addresses. He said the tool also detected segments that day containing sensitive data, including government, intelligence and counter-terrorism information. Mr Doherty added that Microsoft products featured on 70% of laptops and personal computers in Ireland. Users of Microsoft products and services, including Windows, Xbox, web-based Office products such as Word, Excel and Outlook, the Edge web browser, and websites and apps that use Microsoft's Xandr advertising technology, are affected, he told the court. Pic: Niall Carson/PA Wire 'A majority of consumers would be affected,' he said. The ICCL believes the outcome of the case could impact Microsoft's operations across the EU, as the company's European headquarters are based in Ireland. The organisation hopes to make Microsoft bring its systems into compliance with GDPR. Its application comes on the seven-year anniversary of the GDPR's introduction in May 2018. Mr Doherty told Judge O'Donnell it was the first time that a class action case had been taken to the Irish courts under the GDPR laws. Dr Johnny Ryan. Pic: Irish Council For Civil Liberties (ICCL) The judge said he would give leave for the case to proceed, but noted that Microsoft was not represented in court yesterday and will have the opportunity to contest the case at a later date. Dr Johnny Ryan, director of the ICCL's Enforce unit, is leading the case. Before the High Court hearing took place, he said: 'People's intimate secrets such as their relationship, work and financial status are broadcast by Microsoft into the real-time bidding advertising system. 'That system is a black hole of data open to any malicious actor and represents a huge data breach of millions of people's information… This is a data breach, pure and simple.'
BreakingNews.ie
26-05-2025
- Business
- BreakingNews.ie
Civil liberties group brings legal action against Microsoft over alleged data breaches
A High Court judge has allowed the Irish Council for Civil Liberties (ICCL) to initiate a class action-style case against Microsoft over alleged data breaches impacting a significant number of Irish consumers. The ICCL claims Microsoft Ireland Operations Ltd is infringing GDPR rules and the related Data Protection Act 2018 by processing personal data within its real-time bidding system for online advertising. Advertisement On Monday, James Doherty SC, for the ICCL and appearing with Sean O'Sullivan BL, brought an application seeking the court's approval in deeming the proceedings a representative action. A representative action can be brought on behalf of a group of consumers by an organisation that has been recognised as a qualified entity, under the Protection of the Collective Interests of Consumers Act 2023. The ICCL is one of two recognised qualified entities. In court documents, ICCL said it sought to bring the proceedings on behalf of all consumers in the State whose personal data rights are being allegedly infringed by Microsoft's processing. Noting that the ICCL's application appeared to be the first of its kind to come before the Irish courts, Mr Justice Barry O'Donnell said he was satisfied to deem the ICCL's intended proceedings as a representative action. Advertisement He stressed the order was being granted with only the ICCL side represented, and said Microsoft would have an opportunity to seek to set aside the order if it wishes. The judge also granted permission to the ICCL to serve plenary summons on Microsoft. The ICCL is seeking injunctive reliefs from the court, including orders restraining Microsoft from processing certain identified categories of personal data. Ireland Jury in Richard Satchwell trial told they can cons... Read More The ICCL's primary concerns, according to court documents, arise from Microsoft's alleged collection and processing of personal data for 'the purpose of provision of targeted advertising'. Advertisement The ICCL raises concern about Microsoft's alleged 'broadcast' of 'profiles' of individual data subjects to 'large numbers' of prospective advertisers who use Microsoft's real-time bidding advertising system. The ICCL claims this raises questions as to whether individual data subjects are consenting to a 'wide and unsecured broadcast of their personal data', or if they are aware of 'the breadth of the processing of their personal data undertaken by Microsoft'. The ICCL claims that users of various Microsoft products and services, including Windows, Xbox, web-based Office, Edge web browser, and websites and apps that use Microsoft's Xandr advertising technology, are affected by the alleged data breaches.
Irish Examiner
26-05-2025
- Business
- Irish Examiner
Council for civil liberties brings High Court action against Microsoft over alleged data breaches
A High Court judge has allowed the Irish Council for Civil Liberties (ICCL) to initiate a class action-style case against Microsoft over alleged data breaches impacting a significant number of Irish consumers. The ICCL claims Microsoft Ireland Operations Ltd is infringing GDPR rules and the related Data Protection Act 2018 by processing personal data within its real-time bidding system for online advertising. On Monday, James Doherty, counsel for the ICCL and appearing with Sean O'Sullivan, brought an application seeking the court's approval in deeming the proceedings a representative action. A representative action can be brought on behalf of a group of consumers by an organisation that has been recognised as a qualified entity, under the Protection of the Collective Interests of Consumers Act 2023. The ICCL is one of two recognised qualified entities. In court documents, ICCL said it sought to bring the proceedings on behalf of all consumers in the State whose personal data rights are being allegedly infringed by Microsoft's processing. Noting that the ICCL's application appeared to be the first of its kind to come before the Irish courts, Mr Justice Barry O'Donnell said he was satisfied to deem the ICCL's intended proceedings as a representative action. He stressed the order was being granted with only the ICCL side represented, and said Microsoft would have an opportunity to seek to set aside the order if it wishes. The judge also granted permission to the ICCL to serve plenary summons on Microsoft. The ICCL is seeking injunctive reliefs from the court, including orders restraining Microsoft from processing certain identified categories of personal data. The ICCL's primary concerns, according to court documents, arise from Microsoft's alleged collection and processing of personal data for 'the purpose of provision of targeted advertising'. The ICCL raises concern about Microsoft's alleged 'broadcast' of 'profiles' of individual data subjects to 'large numbers' of prospective advertisers who use Microsoft's real-time bidding advertising system. The ICCL claims this raises questions as to whether individual data subjects are consenting to a 'wide and unsecured broadcast of their personal data', or if they are aware of 'the breadth of the processing of their personal data undertaken by Microsoft'. The ICCL claims that users of various Microsoft products and services, including Windows, Xbox, web-based Office, Edge web browser, and websites and apps that use Microsoft's Xandr advertising technology, are affected by the alleged data breaches.
Irish Times
26-05-2025
- Business
- Irish Times
ICCL brings High Court action against Microsoft over alleged data breaches
A High Court judge has allowed the Irish Council for Civil Liberties (ICCL) to initiate a class action-style case against Microsoft over alleged data breaches impacting a significant number of Irish consumers. The ICCL claims Microsoft Ireland Operations Ltd is infringing GDPR rules and the related Data Protection Act 2018 by processing personal data within its real-time bidding system for online advertising. On Monday, James Doherty SC, for the ICCL and appearing with Sean O'Sullivan BL, moved an application seeking the court's approval in deeming the proceedings a representative action. A representative action can be brought on behalf of a group of consumers by an organisation that has been recognised as a qualified entity, under the Protection of the Collective Interests of Consumers Act 2023. The ICCL is one of two recognised qualified entities. READ MORE In court documents, ICCL said it sought to bring the proceedings on behalf of all consumers in the State whose personal data rights are being allegedly infringed by Microsoft's processing. Noting that the ICCL's application appeared to be the first of its kind to come before the Irish courts, Mr Justice Barry O'Donnell said he was satisfied to deem the ICCL's intended proceedings as a representative action. He stressed the order was being granted with only the ICCL side represented, and said Microsoft would have an opportunity to seek to set aside the order if it wishes. The judge also granted permission to the ICCL to serve plenary summons on Microsoft. The ICCL is seeking injunctive reliefs from the court, including orders restraining Microsoft from processing certain identified categories of personal data. The ICCL's primary concerns, according to court documents, arise from Microsoft's alleged collection and processing of personal data for 'the purpose of provision of targeted advertising'. The ICCL raises concern about Microsoft's alleged 'broadcast' of 'profiles' of individual data subjects to 'large numbers' of prospective advertisers who use Microsoft's real-time bidding advertising system. The ICCL claims this raises questions as to whether individual data subjects are consenting to a 'wide and unsecured broadcast of their personal data', or if they are aware of 'the breadth of the processing of their personal data undertaken by Microsoft'. The ICCL claims that users of various Microsoft products and services, including Windows, Xbox, web-based Office, Edge web browser, and websites and apps that use Microsoft's Xandr advertising technology, are affected by the alleged data breaches.
