![]() However, this is not enough for clients operating in regulated industries or professions. WeTransfer is headquartered in Amsterdam and does comply with the EU’s strict General Data Protection Regulation (GDPR), which mandates that companies secure their data against loss or theft. Setting passwords and expiration dates for the file transfers are Pro features of WeTransfer, and while helpful, these features still aren’t secure enough for the type of extensive document sharing and management needed for financial transactions. Indeed, the files can easily end up in the wrong hands: the recipient can simply forward the email to recipients other than those intended by the sender. However, neither of these options present strong security options. You can decide to transfer the file(s) via email or transfer link. Just click the blue plus sign, add files (you can also add a folder), enter both your recipient’s email address (you can add up to 20) and your email address, input a short message, and click Transfer. So, is WeTransfer safe? In short, it does not measure up.Īn attractive feature of WeTransfer, at least for consumers or one-time users, is its lack of friction and near-anonymity: there is no need to create an account, enter credit card information, verify an identity or the like. Therefore enterprise, financial and legal professionals - and those that support them - need to more closely scrutinize WeTransfer as a potential provider to host the documents needed during a complex transaction. However, security needs to be a central issue when selecting a vendor. WeTransfer has emerged as a simple, lightweight solution for sharing large-size files over the web (up to 2GB per file) for free. Cloud hosting providers abound, as providing document hosting has become a standard feature even in regular, everyday productivity tools (i.e., Google Docs for regular Google accounts). While this process has largely moved online, selecting a platform that enables individuals to access and share documents securely remains a challenge. Sensitive business operations like private equity transactions or M&As often require enhanced due diligence, a process in which dozens of professionals review hundreds of pages of documents in order to help buyers size up companies, and vice versa.
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