GDPR: how Videris can help
GDPR comes into force on 25 May 2018, and many organisations are working out exactly how they’re going to comply with it. It is particularly significant because it applies to any processor or controller of data who is in the EU, who collects or processes data of EU citizens, or who works for an organisation trading with EU registered entities.
The broad aims of GDPR are to give EU citizens more control over their data, and to simplify the regulatory environment by unifying guidelines within the EU. As such, there is a heavy focus in the regulation on consent, and there are six conditions – at least one of which needs to be met – for consent to apply. These are:
- Explicit consent of the data subject to use their data
- And/or the processing of their data must be necessary for:
- the performance of a contract with the data subject or to take steps to enter a contract
- compliance with a legal obligation
- protect the vital interests of a data subject or another person
- the performance of a task carried out in the public interest or in the exercise of official authority vested in the controller
- the purposes of legitimate interests pursued by the controller or a third party, except where such interests are overridden by the interests, rights or freedoms of the data subject.
These provisions are focussing the minds of Chief Data and Compliance Officers across a variety of institutions and contexts. Whether it’s anti-money laundering investigations in a financial institution, a complex asset trace being completed in a risk consultancy, or mapping a corporate network associated with a complex legal case, the need to balance proportionality and necessity has never been greater. Understanding what data you can collect and analyse as part of an investigation, while also being clear on processing and retention requirements is critical to the success of the enquiry itself, and vital if there is any formal prosecution or legal case at stake.
With Blackdot Solutions’ tool, Videris, you can enhance, streamline and bring consistency to your investigations and enquiries in a single platform; this ensures full visibility on what data you store and where, as well as best practice and proportionality at all times through the integrations we have with reputable data providers, such as Thomson Reuters WorldCheck, Factiva and Bureau van Dijk. You can also gain unparalleled visibility into the specifics of the searches that are being conducted by your staff, and the ability to store and delete information and searches in full compliance with GDPR provisions.
Blackdot Solutions is a ground-breaking UK technology company. We have created an intelligence and research platform, Videris®, which is available to license as a software download and host either onsite or in cloud. It is an extremely powerful way to get up to speed quickly on people and entities of interest as well as to conduct in-depth research. It draws upon a huge range of online and proprietary data including search engines, social media, global corporate records, subscription data and internal data and delivers real world answers to real world questions to the user through easy to use intuitive visualisation.
If you would like to explore licensing options, please get in touch with our Client Engagement team using the contact form below.