I’ve found there’s often a misconception that regulation seeks to stifle innovation and that the role of regulators is to add layers of red tape. For me, that is simply not true. The ICO has said time and again, it’s not a case of privacy or innovation - it’s privacy and innovation.
A few weeks ago, I was lucky enough to be a judge at the Financial Conduct Authority’s TechSprint. The event was a brilliant example of exactly how privacy and innovation can work together in practice.
The TechSprint brought together teams from all over the world to focus on how privacy enhancing technologies (PETs) can help financial institutions to share data in order to prevent money laundering, while still meeting their confidentiality and privacy obligations.
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