Cryptocurrency cost platform, Crypto.com, introduced on June 2 that it is likely one of the first fintech firms to obtain ISO/IEC 27701:2019 privat
Cryptocurrency cost platform, Crypto.com, introduced on June 2 that it is likely one of the first fintech firms to obtain ISO/IEC 27701:2019 privateness certification, following plenty of 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 pointers for knowledge safety with regard to personally identifiable data, 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 Info 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’ve a privateness data administration system in place to repeatedly enhance knowledge privateness within the firm’s day-to-day operations, by way of to how we construct merchandise for our clients. Safety and privateness have been core pillars since day one.”
Lau says there’s a saying typically 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 He considers this an outdated view, explaining: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 underneath 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 underneath the radar to carry out reconnaissance. This is likely one of the phases of the standard Cyber Assault Kill Chain.”
Implications for the crypto business
On what this “milestone” implies for the crypto business, 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 will likely be in a robust place to proceed to develop and increase. As you will have seen with all of the crypto alternate hacks, the business 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 have 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 data administration system to assist mitigate privateness dangers.
Latest Crypto.com bulletins
Crypto.com introduced the broad European launch of its MCO playing cards on Could 15, increasing the corporate’s presence in Europe. This now covers all 27 EU states.
Moreover, Cointelegraph reported on Could 11 that the crypto platform built-in with e-commerce platform, Ecwid. The platform now contains a plug-in constructed by Crypto.com that lets clients pay with crypto on the platform.