Kount: Agent of Shield
Throughout history, the shield has been an iconic method of defense. From the Ancient Roman tortoise formations to the walls of the Hoover Dam, we’ve come up with a hundred or more ways to keep things out over time.
Unfortunately, this approach doesn’t work so well in the online world. Even firewalls can fall short when it comes to shielding your business from fraudsters. Perfect timing, then, for our announcement this week that Kount is now fully compliant with the EU-US Privacy Shield Framework for protection of EU-US data transfers.
The Shield is a replacement to the now-discarded Safe Harbour Privacy Principles, declared invalid in October 2015 by the European Court of Justice. As whistle-blower Edward Snowden and Austrian privacy campaigner Max Schrems revealed, it turns out that the harbour of EU data to the US under these principles was neither safe nor private!
Adherence to the Privacy Shield ensures a more robust defense, by requiring companies to align closely with EU data protection requirements including: strong obligations on companies handling data, clear safeguards and transparency obligations on US government access, effective protection of individual rights, and an annual joint review mechanism.
If recent headlines in the payments and security industries are to be believed, merchant defenses are under heavy fire, and with recent data breaches such as that at Yahoo, fraudsters are not short of ammunition in the form of leaked personal data that can be later used on the offensive.
In this chaotic environment, it is crucial that the industry secures a tight grasp on the use of personal data, and fast. As always, you can rely on Kount to lead the way. If consumers/merchants are the victims and fraudsters the enemies, then our recent announcement surely positions our fraud-fighting team as the heroes: We’re one of the first in our field to fully comply with the new framework.
Kount’s technology, such as Kount Complete, deals with millions of data points from a range of customer transactions between EU and US businesses, whilst fully protecting this data under Privacy Shield regulations.
Visit Kount today to see how we can help you protect consumer data, whilst boosting sales and fighting fraud at the same time.