Our Commitment to Your Privacy
When we founded Privacy.com in 2014, our mission was to give people greater control over how their financial information is shared and accessed. Many of the people who helped build Privacy, including our three founders, continue to keep this principle top of mind.
Privacy.com is designed to keep your payment information private, but it is not an anonymous financial account. As a regulated financial service, we’re required to verify the identity of our customers under U.S. laws including the Bank Secrecy Act and USA PATRIOT Act. This process, known as KYC (“Know Your Customer”), helps us verify who is opening an account, comply with sanctions and anti-money-laundering requirements, and prevent accounts from being opened using stolen identities.
What is Persona and why do we use it?
Persona is a verification tool we use to confirm that our customers are who they say they are. This helps us meet our regulatory requirements and protect ourselves and our customers from fraud and identity theft.
In a small percentage of cases, we’re unable to verify a customer’s identity through our standard screening process and need to ask for additional information, which may include a selfie and photo ID. That information is processed and verified by Persona.
We conduct due diligence on all third-party vendors we work with, including reviewing their security and privacy practices.
Fulfilling on our Privacy Promise
We recognize how sensitive the data our customers trust us with is. We never sell your data, and only use it for identity verification and fraud prevention purposes. We’re also required to retain certain information to comply with our legal obligations, including requirements under the US Bank Secrecy Act and anti-money laundering regulations.
We hold our third-party vendors to the same high standards. Persona does not sell or share customer data, as outlined in its privacy policy.