IdentityMind Global announced today that it is has been approved under the new EU-US Privacy Shield data transfer program. IdentityMind Global voluntarily adopted Privacy Shield to support its expanding global presence, and its commitment to customer privacy.
The EU-US Privacy Shield Framework, according to the US Department of Commerce, provides companies on both sides of the Atlantic with a mechanism to comply with EU data protection requirements when transferring personal data from the European Union to the United States. Privacy Shield replaced the longstanding International Safe Harbor privacy principles against which IdentityMind was also certified.
“Data is key to our business, and protecting it is one of our first priorities,” said Garrett Gafke, CEO IdentityMind Global. “With many customers in Europe, and as a global business, Privacy Shield is another key step that we have taken in illustrating our commitment that private data remains private.”
As IdentityMind Global continues to expand its risk and compliance footprint globally, adapting to new privacy regulations is critical. With IdentityMind Global’s existing privacy practices, transitioning to the new framework was seamless. The Privacy Shield Framework holds US and EU companies to a high standard for protecting personal data. Companies who participate in Privacy Shield must self-certify on an annual basis with the US Department of Commerce, reaffirming adherence to the Privacy Shield Principles. Once certified, companies are held accountable under U.S. law.
About IdentityMind Global
IdentityMind, creator of Trusted Digital Identities (TDIs), offers a SaaS Platform for online risk management and compliance automation. IdentityMind continuously validates and risk scores online identities worldwide through its eDNA™ to ensure global business safety and compliance at customer onboarding and throughout their lifecycle. It securely tracks the entities involved in each transaction (e.g. consumers, merchants, cardholders, payment wallets, alternative payment methods, etc.) to build payment reputations, and allows companies to identity and reduce potential fraud, evaluate merchant account applications, onboard accounts, enable identity verification services, and identify potential money laundering. For more information, visit: http://www.identitymindglobal.com