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December, 2023

Privacy by Design

Privacy by Design: A Cornerstone of data protection at GSS 

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In today’s data-driven world, privacy has become a paramount concern for individuals and organisations alike. GSS understands the importance of safeguarding personal data and is committed to incorporating Privacy by Design principles into every aspect of the business. With Privacy by Design, GSS incorporate data protection measures into the design of products, services and processes from the beginning. This essential approach ensures that privacy is an integral part of the GSS platform. 

A Dedication to Privacy from the Start 

Our commitment to Privacy by Design is evident in our meticulous approach to building our platform. From the outset, GSS has been committed to creating a comprehensive privacy blueprint, to establish a robust privacy framework adhering to legal and regulatory requirements and translating effectively into operational practices. This framework showcases our detailed understanding and mapping of the personal data in our possession and the sensitivity of that data. It also demonstrates  our processing activities, which in turn, address our accountability and compliance obligations as a controller or processor respectively. This empowers GSS to demonstrate, with confidence, its compliance with data protection regulations. 

Collaboration and Understanding: Key Ingredients for Success 

GSS recognises the value of collaboration and engagement with key stakeholders, both internal and external, in implementing Privacy by Design effectively. GSS spoke to several data protection authorities across the globe, to ensure the platform design was robust enough to withstand regulatory scrutiny. GSS also engaged with financial institutions to gain an understanding of their data collection practices, handling procedures, and data protection compliance measures. This collaborative approach allows us to align our privacy efforts with their specific requirements and risk appetite. 

GDPR: A Global Benchmark for Data Protection

The EU General Data Protection Regulation (GDPR) has established itself as a global “gold” standard for data protection, serving as the foundation for both emerging and revisions to data protection laws worldwide. The GDPR principles are at the core of our Privacy by Design framework and are inherently agile, enabling us to adapt and integrate additional localised privacy requirements as needed. 

Security by Design: Complementing Privacy by Design 

Privacy by Design and privacy compliance is only sufficiently robust if security features at its core. Privacy and security is intertwined throughout the lifecycle of personal data processing activities.  We complement our Privacy by Design approach with security by design, further strengthening our data protection practices. This ensures we have appropriate safeguards and protections in place to safeguard against unauthorised and unlawful access attempts. Crucially, this also reduces the risk of personal data breaches. This comprehensive approach ensures that data remains secure and protected at all times. 

Education and Awareness: Empowering Our Team 

A critical component of our Privacy by Design framework is education and awareness. We believe that privacy should not be confined to the realm of our executive or compliance but should be embedded in the mindset of every GSS employee. To achieve this, we are developing a bespoke privacy training program that instils a deep understanding of data protection principles and best practices across the organisation. 

Continuous Evolution: Staying Ahead of the Curve 

At GSS, we are committed to continuous improvement and innovation in our data protection practices and its interplay and cross over with other relevant laws and regulations. We actively monitor emerging trends and regulations in the data privacy landscape and beyond ensuring that our approach remains current and effective. This proactive stance allows us to stay ahead of the curve and maintain the trust of our clients. 

Privacy by Design is not just a concept at GSS; it is a deeply ingrained principle that guides our product development, operational processes, and employee training. We are dedicated to safeguarding personal data and maintaining the highest standards of data protection. Our commitment to Privacy by Design is unwavering, and we will continue to evolve our practices to ensure that it remains at the heart of everything we do. 

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