This unchecked flow of data is a new source of sensitive information and creates security loopholes for serious cyber attacks.

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Bing has been slowly increasing its share of American searches and is working with Facebook on integrating social-networking data into its results in a bid to improve them. (This is another reason why Google wants its own source of social data.) People are also being offered more and more digital information via other sources, including specialised search engines and software applications on smartphones.

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"They'll begin by putting names in the FBI's National Crime Information data base system, the most widely used tool for finding suspects, " explained one source.

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One source of the data inaccuracies is that FINRA and the SEC have two completely different registration systems each revealing different types of information about the brokers on their respective systems.

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