New due diligence principles will be introduced on the online platform PRNEWS.IO in support of the mission to ensure the transparency of the online ecosystem.
Similar to KYC principles in the financial industry, these new procedures will be implemented for all participants of the online platform.
PRNEWS.IO will still not oversee the authenticity of published content but will strengthen measures to identify the beneficiaries and develop a new Acceptable Use Policy.
According to PRNEWS board member Alexander Storozhuk, the changes are due to both the desire for information hygiene and regulatory requirements in financial settlements between customers and executors where PRNEWS plays an intermediary role.
“To some extent, we act as an open market regulator, connecting the interest of brands with the capabilities of publishers of news sites. Both parties should be qualified to operate in transparent conditions.” — said Aleksandr Storozhuk.
The new procedures will be introduced by January 1, 2022.
PRNEWS.IO helps brands to get published in the media and news site publishers to profit from publishing sponsored content. The company was founded in 2015 and operates in Estonia with a development office located in Ukraine.