A privacy policy is a legal statement that outlines how an organization collects, uses, protects, and manages users' personal information. It includes information like what information a company collects, how they use it, who they share it with, and what rights the user has over their own data. Privacy policies are essential for legal and regulatory compliance, as well as transparency.
Use case/ examples of a privacy policy
Customer communication: Informing users clearly about the institution's data collection practices, usage purposes, and any third-party sharing arrangements, as well as all of the customer's rights related to their data, including access, correction, deletion, and portability options. This communication is particularly salient within the use of websites and apps.
Regulatory compliance: Meeting legal requirements in all of the jurisdictions in which an institution operates by documenting and disclosing how customers' personal information is handled and protected.
