👀 Worldcoin (#WLD ) under fire in Colombia over potential data protection lapses

Colombia’s Superintendence of Industry and Commerce (SIC) has initiated formal proceedings against #Worldcoin Foundation and Tools for Humanity over alleged violations of the country’s personal data protection regulations.

According to the Aug. 21 announcement, the regulatory body, acting under its mandate to safeguard personal data, issued the charges on Aug. 16.

🔸 Regulatory probe

The SIC’s investigation centers on whether the organizations breached Colombian laws governing the collection and processing of sensitive personal data.

The probe aims to determine if Worldcoin Foundation and Tools for Humanity failed to obtain explicit and informed consent from individuals for the collection of their data and whether they neglected to implement adequate policies for data treatment and security.

The investigation will also examine whether the companies provided sufficient mechanisms for addressing complaints and consultations from data subjects.

Should the allegations be substantiated, the SIC could impose severe penalties, including fines of up to 2,000x the monthly minimum wage, the suspension of related activities for up to six months, or the temporary or permanent cessation of operations.

The SIC emphasized its commitment to protecting citizens’ fundamental rights and urged the public to be vigilant in safeguarding their personal information. The notice of charges is currently under review, and the involved parties have been notified. The decision does not allow for appeal.

The ongoing investigation highlights the increasing scrutiny of tech companies’ data practices, especially as they expand operations globally. Worldcoin, which aims to create a global digital identity system using biometric data, has faced similar regulatory challenges in other jurisdictions, raising questions about the adequacy of its data protection measures.