What is a Privacy Policy?
A privacy policy is a legal document provided by KYC/KYB AML Risk Manager and Compliance Platform that explains the types of personal data collected from customers, for what purpose, and how data is processed.
Why and how should I assess this?
The primary purpose of a privacy policy is to provide information to customers and website visitors about what happens with their data and why it is collected. Moreover, having a privacy policy is required by law.
Any privacy policy should include:
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The information collected by the company from its customers and users
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Purposes for which the data is processed
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The legal basis for the processing
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Whether data is shared with third parties
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Where and for how long data is stored
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Description of the data subject rights
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Notification about any changes made to the privacy policy