WISeKey's technology to protect personal data and facilitate customer's compliance with the European General Data Protection Regulation (GDPR)
ZUG, Switzerland- May 22, 2018 -WISeKey International Holding Ltd ("WISeKey", SIX: WIHN), a leading cybersecurity and IoT company, today confirmed the successful completion of its General Data Protection Regulation (GDPR) compliance program, across all its affiliates.
The 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), is the primary law regulating how companies protect EU citizens' personal data.
WISeKey QuoVadis products and services are used by organizations to facilitate their compliance with GDPR which 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.
"WISeKey is deeply committed not only to protecting our customer's privacy, but also to enabling our customers to become compliant themselves by leveraging our security technology and enabling personal data protection by using encryption and digital signatures," said Carlos Moreira, WISeKey's CEO and Founder.
As part of this commitment, WISeKey has appointed Pedro Fuentes as its Chief Security Officer and Data Protection Officer (DPO), driving the group's efforts to the highest compliance levels. "It's a great honor to assume these responsibilities, and a pleasure working with a great team of professionals, like Barry Kilborn, Risk Manager at WISeKey QuoVadis," said Pedro Fuentes, who has been registered as the group's DPO with the Dutch Data Protection Agency, which acts as the Lead Supervisory Authority.
About WISeKey:
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 .
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Press and investor contacts:
| WISeKey International Holding Ltd Company Contact: Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@wisekey.com | WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 lcati@equityny.com |
Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.
