Compliance

Compliance (regulatory compliance) means conforming to comply with relevant laws and regulations. Together with KYC Spider in Zug Eurospider has in-depth compliance know-how.

The term “Semantic Web” was coined by Tim Berners-Lee, the inventor of the World Wide Web. His idea was to create a “web of data” that could be interpreted by machines – a goal that is also highly relevant the area of compliance. What is known as the Resource Description Framework (RDF) is used to achieve this goal. RDF enables automated inferencing, which is also beneficial for compliance purposes.

Precision is the ratio of true positives to positives: how many hits are correct? Yield is the ratio of true positives to the total number of true positives and false negatives: how many hits that should have been found were actually found. This two-dimensional perspective does not allow for any clear-cut estimation.

Game theory is a toolbox offering various analytical instruments that can be applied across a range of areas, for example in economics and law. In the simplest model, the “players” are a potential bank customer and a compliance officer. The game – onboarding, for example – is subject to particular rules. In the best-case scenario, the customer will be accepted and the compliance officer will not have any problems with them. In the worst-case scenario, the potential bank customer will be turned down, but the compliance officer will still experience problems.

Machine learning is widely used in computer science and other fields such as compliance. Developing successful machine learning applications, however, requires a substantial amount of "black art" that is difficult to find in textbooks. Here come the 12 key lessons that machine learning researches have learned.

In a previous post, it was suggested that smart technologies should be used to resolve data protection issues rather than comprehensive legal measures. The current COVID-19 crisis appears to be reinforcing the use of the former. Co-developed with Swiss expertise, the DP3T protocol forms the foundation of Apple and Google’s API, which will assist with developing contact tracing apps in future.

Complete Revision of the Federal Data Protection Act

The complete revision's draft of the Federal Data Protection Act is currently in political consultation. Data Protection is to be increased by giving people more control over their private data as well as reinforcing transparancy regarding the handling of confidential data.

Links: draft, report

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