Preserving privacy in data sharing is no longer a futuristic vision, it is a reality made possible by the Privacy-Enhancing Technology (PET) market. In short, PETs are a range of technologies that enable multiple parties to gain insights based on their shared data whilst preserving the confidentiality of the data. Our current program ‘Alliance for Privacy Preserving Detection of Financial Crime’ [APP-DFC], a partnership between De Volksbank, TMNL, CWI, ABN AMRO, Rabobank, and TNO, strives for the collaborative detection of financial crime using PETs. We foresee a demand for these technologies for effective and privacy-preserving financial crime detection in the near future, and we think it likely that commercial PET solutions will have an important role to play in realizing this future.
