The IAB (Interactive Advertising Bureau) has recently unveiled a new tool aimed at standardising privacy practices in digital advertising. Developed in partnership with compliance company SafeGuard Privacy, the IAB Diligence Platform aims to make it easier for advertisers and publishers to vet their adtech partners in an increasingly regulated space.
Why is this important for business professionals? With new privacy laws and stricter enforcement, non-compliance can result in hefty fines. Additionally, consumers are becoming more aware and protective of their online privacy, making it crucial for businesses to ensure compliance with these regulations. The IAB Diligence Platform allows digital marketers to compare ad partners based on their privacy practices, providing added confidence and potentially contributing to building trust with consumers in the long run.
The platform focuses specifically on data privacy practices and state laws governing them. Adtech vendors are required to fill out a questionnaire tailored to their specific role in the adtech supply chain, which they only need to complete once. They then have the option to share their responses during digital ad transactions through the IAB Diligence Platform, which is open to both IAB members and non-members.
For advertisers, this tool can be used to evaluate the compliance of demand-side platforms (DSPs), while publishers can use it to assess supply-side adtech platforms (SSPs). This allows for a more streamlined and efficient process in ensuring compliance with privacy regulations.
The questionnaires used in the platform were developed by industry privacy lawyers and have been reviewed by over six law firms who participated in the IAB Legal Affairs Council. The IAB Diligence Platform is built on the SafeGuard Privacy Platform, which includes updated state law assessments and a vendor compliance hub.
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Originally reported by Martech: https://martech.org/iab-launches-new-privacy-compliance-tool/
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