Regulatory Notices
DSS’ flagship SafetyNet.ai gets document retention capabilities
New York City, 2nd May 2018 – Domus Semo Sancus (DSS) today announced the introduction of Document Retention tools in SafetyNet.ai, its award-winning enhanced due diligence (EDD) cognitive search and crime prevention tool. Many organizations, especially financial services businesses (FSBs), are required by law to preserve documents relating to their clients, employee, and company information for a minimal amount of time. In addition, they are also required to “…retain personal data for no longer than is necessary for the purpose it was obtained for.” Together, these requirements put very strict timeframes on the lifecycle of documents – i.e from creation/collection to destruction – with hefty penalties for non-compliance.
To make it easy for end-users to comply with Document Retention and Data Protection regulations, SafetyNet.ai Profile Reports now support Document Destruction Dates, which can be set to any date in the future, at which time, the reports automatically get deleted. At anytime during the life cycle of a document, an end-user can bring forward or push out the Destruction Date, or if required, cancel it altogether. “With SafetyNet, our main goal is to help our customers manage risk, and I’m proud that this tool makes it easy for them to do so,” states Lead Developer, Piyush Dubey.
DSS’ Chairman & CEO, E. Jay Saunders further stated that “With SafetyNet’s Document Retention capabilities, an end-user can set the Destruction Date for documents based on the local regulatory requirements and take comfort in the knowledge that the documents will be retained for just that amount of time.”
In keeping with DSS’ goal of providing its customers with the best value for money, SafetyNet’s Document Retention tools are being made available across all its subscription plans free of charge.