Compliance
Compliance (regulatory compliance) means conforming to comply with relevant laws and regulations. Together with KYC Spider in Zug Eurospider has in-depth compliance know-how.
In a recent compliance know how past, we already addressed the future data protection regulation. The term pseudonymization is infrequently used in this subject area. This means that individual-related data is not linked explicitly to a person, but a pseudonym.
We report in this article on name matching experiments, in particular on hit rates. We matched a sample of 631’845 fictitious customers aigainst PEP profiles (Politically Exposed Person). A hit is a match between a customer and at least one PEP profile independent of the correctness of the match. A correct match (also called true positive) means that the customer is eventually the PEP described in the profile. A false match (also called false positive) means that the customer and the PEP are two different persons with very similar or identical names.
Hash functions such as SHA-1 are crucial in digital business (f.e. fintech) to produce a small piece of text (the digest) from a larger document. This digest is then a unique representation of the document. No two different documents should have the same digest.
The EU’s new General Data Protection Regulation comes into effect on May 25, 2018. The preliminary draft of the complete revision of the Federal Act on Data Protection (FADP) has already been published. In both cases, compliance duties and sanctions for non-compliance will be increased. From a technical vantage point, Knowledge Management not only increases innovation, but is also useful in meeting the regulatory duties and minimizing risk. How do you combine the unpleasant with the useful?
In a previous contribution we touched on the risk-based approach. However, it is not only risk that has to be evaluated correctly but also processes. Social research has investigated how errors are introduced into such evaluations.
Complete Revision of the Federal Data Protection Act
Complete Revision of the Federal Data Protection Act: „As of 15th September 2017, draft and report for a completely revised Federal Data Protection Act is public. In a first step parliament and the people agreed to adaptations in order to be compliant with EU law. The second part of the revision is debated by the parliament since September 2019. Data Protection is to be increased by giving people more control over their private data as well as reinforcing transparency regarding the handling of confidential data.”
Links: datenrecht.ch
