Why We Do A Compliance Check On Websites/Apps
Posted by admin on November 19, 2018
Our aim is for web mining to be a norm in today’s digital world, to provide websites, application and hardware providers an alternative form of monetization, we believe that the current forms of monetization are broken, highly intrusive and invades user privacy. Web mining in today’s context has been maligned by multiple bad actors in the space and is moreover viewed as malware. To overcome the current atmosphere associated with web mining, Gath3r has chosen to follow a strict compliance procedure for all of it’s clients. This is done to ensure that we can effectively reach our goal of privacy and transparency in today’s highly intrusive digital world. Our compliance procedure is broadly broken down below, but not limited to the following:
Laws and Regulations
Currently, for all websites we perform three key checks in order to ensure any website can be approved for further processing, and these are to be expected of any reputable web-mining service as it ensures integrity between the business and end-user:
AML – Anti-Money Laundering checks are done to identify investors as who they claim to be, this is usually done in the background – so that we can ensure there is no ill-intent.
KYC – Know Your Customer checks are defined as a regulatory process to verify the identity of the customer to prevent money laundering and other financial crimes.
CTF – Counter-Terrorism Financing is done to check transactions based against relevance to international terrorism, through investors and customers being matched against sanction lists.
Once we have completed all the compliance checks and are happy with our findings, we whitelist websites in order to allow them to insert the Gath3r web-mining script, allowing users/visitors to enable their devices to mine crypto using their spare computational power, thereby creating a new revenue stream. However, it should be noted as we believe in transparency we expect user consent to be requested. The user should be fully aware as to the process, and what is expected of them – if they choose to willingly accept and share the resources of their devices. This not only goes back to one of our core values (transparency) but we believe is one of the reasons users would opt in, as everything is made clear and simple enough for them to understand and thereby want to help – whilst also increasing user trust with the website in question. In order to maintain our transparency efforts, the Gath3r team performs a weekly manual verification on websites currently utilizing our code in order to check whether or not the opt in pop up has shown up, proving no malicious tampering has occurred.