30 Jan Bitfinex Achieves SOC 2 Sort 2 Safety Compliance, Setting Trade Gold Customary
ROAD TOWN, British Virgin Islands, January 30, 2024 – Bitfinex, a number one digital token buying and selling platform, proudly declares its profitable completion of the System and Organisation Controls (SOC) 2 Sort 2 audit examination, solidifying its dedication to safety and knowledge integrity. Developed by the American Institute of Licensed Public Accountants (AICPA), SOC 2 certification is well known because the gold customary in safety compliance.
One yr after reaching the SOC 2 Sort 1 customary, the Sort 2 audit supplies a broader and extra complete analysis of safety infrastructure, together with safety, availability, confidentiality, privateness, and processing integrity throughout all sides of operations. This achievement highlights Bitfinex’s dedication to sustaining the best requirements of data safety within the business.
The SOC 2 Sort 2 Report signifies the implementation of rigorous insurance policies and procedures in accordance with AICPA Belief Providers Standards. It additionally validates the existence of inside controls designed to fulfill stringent safety ideas. This impartial verification of safety controls is crucial for corporations working in extremely regulated industries.
“Reaching SOC 2 compliance is a notable achievement and reinforces Bitfinex’s dedication to safety,” acknowledged Paolo Ardoino, Chief Know-how Officer of Bitfinex. “We are going to proceed to make sure that we preserve the best stage of safety. SOC 2 is an internationally revered safety evaluation standards and in step with the requirements maintained in extremely regulated industries such because the monetary companies sector.”
Bitfinex is dedicated to sustaining these excessive requirements and can bear annual SOC 2 Sort 2 examinations to make sure that its operations and safety practices are constantly executed and trusted.
The SOC 2 certification’s key ‘belief service ideas’ embrace:
Safety: Measures corresponding to firewalls, intrusion detection, and enhanced authentication protocols are carried out to safeguard buyer information.
Availability: Ensures a dependable and lively community whereas addressing drawback decision effectivity.
Confidentiality: Restricts information entry and disclosure to authorised people or organisations, with a powerful emphasis on encryption for information transmission.
Privateness: This precept ensures that private data is collected, used, retained, disclosed, and destroyed in conformity with the commitments within the entity’s privateness discover. Within the context of Bitfinex, this could imply guaranteeing that buyer data, corresponding to private identification information and transaction histories, is managed in a manner that respects and protects particular person privateness rights. Measures might embrace information minimization practices, privateness insurance policies in step with information safety laws like GDPR, and procedures to deal with privacy-related inquiries and complaints.
Processing Integrity: This precept focuses on whether or not programs obtain their function (i.e., ship the suitable information on the proper worth on the proper time). For Bitfinex, this could contain guaranteeing that transactions are processed precisely, well timed, authorised, and fully. It’s concerning the correct functioning of the programs used for executing and recording transactions. This contains sustaining the accuracy and validity of buying and selling actions, guaranteeing system performance aligns with its meant use, and that processing errors are recognized and rectified promptly.
“When prospects select a digital token change, their most typical and essential concern revolves round data safety,” stated Riccardo Masutti, Safety Consultancy Providers at Bitfinex. “SOC 2 Sort 2 compliance serves because the business benchmark and supplies a excessive stage of assurance relating to data safety.”
Bitfinex, recognized for its complete platform providing companies corresponding to spot and margin buying and selling, staking, borrowing, and capital elevating companies, continues to prioritise safety to offer merchants with a trusted and dependable buying and selling atmosphere.
For extra data on Bitfinex and its companies, please go to www.bitfinex.com.
*All prospects of www.bitfinex.com are topic to Bitfinex’s phrases of service (“TOS”). Please observe that U.S. individuals (as outlined within the TOS), amongst different prohibited individuals (as outlined within the TOS), are strictly prohibited from immediately or not directly holding, proudly owning, or working an Account (as outlined within the TOS) on www.bitfinex.com.
About Bitfinex
Based in 2012, Bitfinex is a digital token buying and selling platform providing state-of-the-art companies for digital token merchants and international liquidity suppliers. Along with a collection of superior buying and selling options and charting instruments, Bitfinex supplies entry to peer-to-peer financing, an OTC market, and financed buying and selling for a big selection of digital belongings. Bitfinex’s technique focuses on offering unparalleled help, instruments, and innovation for knowledgeable merchants and liquidity suppliers world wide. Go to www.bitfinex.com to study extra.
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