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Also, isn't it likely that if too many people take a dislike to this system and block the cookie
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No most people will be unaware of it.
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it's quick and simple enough for VM or Phorm to quietly change the domain of the data collection part of the system without telling us, thus bypassing the block?
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The process is audited by a fairly reputable firm.
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technically, not the vague, infantile rubbish in the FAQ on the Webwise site
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It is unlikely since this would be fairly commercially sensitive information.