Cryptocurrency cost platform, Crypto.com, introduced on June 2 that it is without doubt one of the first fintech firms to obtain ISO/IEC 27701:2019 privateness certification, following numerous third-party audits.
In keeping with the announcement, the “Gold commonplace” certification goals to strengthen the corporate’s technique — “Protection in Depth”. It outlines coverage implementation tips for knowledge safety with regard to personally identifiable info, or PII, inside the group.
The certification was granted by SGS, a number one inspection verification and certification agency that has over 2,600 workplaces worldwide.
Strengthening the corporate’s danger and safety insurance policies
Talking with Cointelegraph, Jason Lau, Chief Data Safety Officer of Crypto.com, praised the announcement. He elaborated on what it means to have obtained such a certification:
“It additionally ensures that we have now a privateness info administration system in place to constantly enhance knowledge privateness within the firm’s day-to-day operations, by means of to how we construct merchandise for our prospects. Safety and privateness have been core pillars since day one.”
Lau says there’s a saying usually utilized in cybersecurity: “It isn’t a matter of if you’ll be hacked however when”. He considers this an outdated view, explaining:
“(…) We have to work below the mantra of ‘assume breach,’ that means organizations ought to assume that they’re already breached, and there’s an attacker inside their techniques and staying below the radar to carry out reconnaissance. This is without doubt one of the phases of the standard Cyber Assault Kill Chain.”
Implications for the crypto trade
On what this “milestone” implies for the crypto trade, the Crypto.com CISO believes that its technique makes use of the “highest requirements” of safety and privateness. They declare to match the extent of the normal banks:
“When cryptocurrency regulation turns into extra widespread, we might be in a powerful place to proceed to develop and increase. As you will have seen with all of the crypto change hacks, the trade desperately wants extra focus into cybersecurity and knowledge privateness, and my objective is to steer by instance at Crypto.com so others might comply with.”
The corporate’s privateness dangers and controls had been examined in opposition to the ISO / IEC 27701: 2019 commonplace. It additionally examined whether or not Crypto.com has put in place a privateness info administration system to assist mitigate privateness dangers.
Current Crypto.com bulletins
Crypto.com introduced the broad European launch of its MCO playing cards on Might 15, increasing the corporate’s presence in Europe. This now covers all 27 EU states.
Moreover, Cointelegraph reported on Might 11 that the crypto platform built-in with e-commerce platform, Ecwid. The platform now includes a plug-in constructed by Crypto.com that lets prospects pay with crypto on the platform.
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