WISeKey’s PKI technology in high demand by companies to facilitate compliance with the new European General Data Protection Regulation (GDPR) and ePrivacy laws
In high demand following the Cambridge Analytica-Facebook user data scandal
ZUG, GENEVA, Switzerland – March 26, 2018 – WISeKey International Holding Ltd (WISeKey) (SIX:WIHN), a leading Swiss cybersecurity and IoT solutions company, announced today that its suite of QuoVadis products and services is used by organizations to facilitate their compliance with the new European General Data Protection Regulation (Directive 95/46/EC), known as GDPR (approved by the European Parliament in April 2016; will take effect on May 25, 2018), the primary law regulating how companies protect EU citizens’ personal data.
GDPR mandates a set of standards for any company that markets goods or services and handle EU citizens’ personal data to better safeguard the processing and movement of the data gathered. It requires that personal data is processed in a manner that ensures its security, while the rationale and the purpose for collection is transparent and the consent of the subject is obtained in advance. Companies are required to protect data against unauthorized or unlawful processing, accidental loss, destruction or damage, using appropriate technical or organizational measures. Since any company that markets goods or services to EU residents, regardless of its location, is subject to the regulation, the GDPR is expected to have a global impact on data protection requirements. Penalties for noncompliance include stiff fines of up to 20 Million Euros per breach.
WISeKey’s PKI provides technology solutions that can alleviate the compliance efforts and reduce risks for penalties. The WISeKey QuoVadis product can help organizations to protect sensitive personal data while in transit and at rest; this is achieved thanks to encryption solutions enabled by trusted digital certificates. Users can encrypt their personal data and control who can access to it. SSL certificates assure end users that their personal data is gathered and processed by identified and genuine service providers, while communication is encrypted.
It is critical to ensure that personal data is managed for legitimate purposes and with user consent. The recent Cambridge Analytica-Facebook user data scandal, is just one example on how personal data can be captured, exploited and misused. Managing consent appropriately is a challenge for many organizations, and WISeKey QuoVadis solutions for electronic signature can provide a mechanism to process these consents in a way which is both legally binding and convenient, by reducing the need to manage paper documents.
“As an accredited issuer of TSP certificates to individuals and companies, WISeKey has been subject to multiple audits in which data privacy policies and procedures as well as underlying systems for collecting and storing of the data, have been assessed and reported on. The GDPR brings changes to disclosure and systems have been enhanced to meet all additional safety requirements,” explains Carlos Moreira, Chief Executive Officer and founder of WISeKey. “Customers can benefit from our experience and technology to reduce compliance implementation efforts and mitigate risks.”
WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems with a patented process. WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
Press and investor contacts:
| WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
| WISeKey Investor Relations (US)
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
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