The digital advertising industry is constantly evolving, and with the ever-changing landscape of privacy regulations, it is crucial for advertisers, agencies, adtech companies, and publishers to stay compliant. In response to this need, the Interactive Advertising Bureau (IAB) has launched the updated IAB Diligence Platform, a third-party privacy compliance solution designed to help stakeholders navigate the complex world of privacy laws.
The platform, which was initially introduced in January, was created in collaboration with the IAB’s Privacy Implementation and Accountability Task Force (PIAT) and privacy lawyers. Powered by Safeguard Privacy, the IAB Diligence Platform is now available for use by advertisers and partners across the adtech ecosystem. Its primary goal is to ensure that campaigns are compliant with privacy laws in 19 states, with more regulations expected to be added in the future.
One of the driving forces behind the development of this platform is the California Privacy Protection Act (CPPA), which has shifted liability towards entities that fail to perform due diligence on the privacy practices of their digital advertising partners. This change in accountability underscores the importance of all parties in the digital advertising supply chain being diligent about the privacy practices of their partners.
Michael Hahn, EVP and general counsel of IAB and IAB Tech Lab, emphasized the significance of accountability in light of state privacy laws. He stated, “State privacy laws now emphasize accountability, requiring businesses to ensure partners handle personal information lawfully, with mandatory audit provisions in contracts. Additionally, regulations highlight the importance of due diligence in determining liability, making third-party risk management extremely important.”
The IAB Diligence Platform offers a range of features to help stakeholders navigate the complexities of privacy compliance. These features include industry-specific questions developed by the IAB, which are tailored to digital advertising data flows and business use cases. This ensures thorough third-party due diligence and compliance with privacy regulations.
Moreover, the platform offers efficiency and scalability by streamlining the diligence process and reducing repetitive tasks. Users can complete relevant questionnaires once and share them with current and prospective deal partners, saving time and resources. Additionally, the platform has been updated to address current state privacy laws, the Protecting Americans’ Data from Foreign Adversaries Act, and industry compliance initiatives like the Multi-State Privacy Agreement (MSPA).
Key stakeholders and adtech companies, including Hershey, Raptive, and Adform, have shown support for the IAB Diligence Platform. Vinny Rinaldi, head of media for Hershey, expressed enthusiasm for the platform, stating, “The IAB Diligence Platform helps us manage privacy regulations and ensure our advertising partners meet high data protection standards. We’re eager to use this platform to enhance our compliance efforts and uphold our commitment to consumer privacy.”
In conclusion, the launch of the updated IAB Diligence Platform marks a significant step towards ensuring privacy compliance in the digital advertising industry. By providing a comprehensive solution for stakeholders to navigate privacy regulations, the platform aims to mitigate risk and uphold consumer privacy standards in an increasingly complex regulatory environment.