International Privacy Compliance
By Douglas Wood, Infoglide Senior Vice President
International companies, particularly those in the financial services markets, have long struggled to comply with the varying data privacy laws of the countries in which they operate. Simple data analysis practices in one region of the world may or may not be acceptable in another, and the penalties of non-compliance can be harsh to say the least. This leads to inefficiencies in areas such as AML, Compliance and Fraud Investigation.
For most companies, the data to identify and catch fraudsters already exists within the organization; however, because data is distributed across various data silos in different countries, resolving identities and non-obvious relationships requires rapidly accessing multiple data sources with different structures and access methods.
Consider then the requirement to comply with data privacy laws, which make it essential that the analyst returns only the calculated probability of a match in a foreign database, instead of the actual data associated with that match. Businesses have spent massive amounts of money trying to tip-toe through the minefield of privacy laws and acceptable practices. Determining “who’s who” and “who’s working with whom” has proven difficult where data privacy laws prohibit individual analysts from ‘seeing’ the results of a search into a database in another country.
Infoglide’s Identity Resolution Engine is uniquely capable of solving these requirements by searching into disparate data – irrespective of where it resides – and returning only the percentage likelihood that a match or relationship was found. The software then returns contact information of the appropriate data steward, if desired.
Taking the weight of data privacy concerns off analysts increases productivity and helps them focus on the cases that truly matter to your organization. For more information, contact sales@infoglide.com.
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