TORONTO, September 9, 2019- Today CryptoNumerics, an enterprise software company, announced the release of Re-Identify.com, a web-based tool for measuring a dataset’s risk of re-identification. Users can upload a previously anonymized dataset that will be analyzed to produce an instant privacy risk score and an estimated cost of a data breach. Users can also view how CN-Protect, CryptoNumerics’ privacy automation solution, will anonymize their data in a way that substantially reduces the risk of re-identification while maintaining analytical value. This demonstration tool can be accessed via CryptoNumerics.com or Re-identify.com.
Gathering personal data has become increasingly valuable for driving better business decisions through insights and data analysis. In recent years, regulations have required organizations to protect their customers’ data. To comply, many organizations have implemented anonymization techniques. However, current research demonstrates that these methods are ineffective in protecting datasets to the point of reducing re-identification. As a result, organizations are in direct violation of the standards of anonymization outlined in the European General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA), resulting in non-compliance penalties and fines. These can include a fine of up to 4% of annual global turnover, a ban on data processing, and/or a suspension on data transfers to third countries (Source).
GDPR and CCPA emphasize that for data to be considered anonymous, every person in a dataset must be protected against the risk of re-identification. This includes datasets that have no apparent identifiers but can still be used to re-identify an individual by linking or combining with other available data.
Citizens are increasingly concerned with confidentiality, privacy, and ethical usage of their personal information. At the same time, data is an essential driver of business and technological advancement that looks to revolutionize the future. As such, companies must learn to comply with the increasingly strict protection laws while retaining the ability to achieve accurate and detailed insights. With CryptoNumerics’ new privacy tool, businesses can quickly gain insights from their data while protecting people’s privacy.
CryptoNumerics team is excited to be at the Strata Data Conference in New York from September 24-26 to engage with industry leaders and showcase the revolutionary business impact of their solutions. They are proud to have been nominated “Most Disruptive Startup” finalists. Being recognized, amongst some of the most innovative and advanced new ideas, validates the increasing importance of privacy in the world of big data.
Try Re-Identify.com today.
CryptoNumerics is where data privacy meets data science. The company creates enterprise-class software solutions which include privacy automation and virtual data collaboration that Fortune 1000 enterprises are deploying to address privacy compliance such as the GDPR, CCPA, and PIPEDA, while still driving data science and innovation projects to obtain greater business and customer insights. CryptoNumerics’ privacy automation reduces corporate liability and protects brand value from privacy non-compliance exposures.