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 widely known because the gold customary in safety compliance.
One yr after attaining 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 Companies Standards. It additionally validates the existence of inside controls designed to fulfill stringent safety ideas. This unbiased verification of safety controls is important for corporations working in extremely regulated industries.
“Reaching SOC 2 compliance is a notable achievement and reinforces Bitfinex’s dedication to safety,” said Paolo Ardoino, Chief Know-how Officer of Bitfinex. “We’ll proceed to make sure that we preserve the best degree of safety. SOC 2 is an internationally revered safety evaluation standards and per 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 reminiscent of firewalls, intrusion detection, and enhanced authentication protocols are carried out to safeguard buyer information.
Availability: Ensures a dependable and lively community whereas addressing downside decision effectivity.
Confidentiality: Restricts information entry and disclosure to authorised people or organisations, with a robust emphasis on encryption for information transmission.
Privateness: This precept ensures that non-public 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 might imply making certain that buyer data, reminiscent of private identification information and transaction histories, is managed in a approach that respects and protects particular person privateness rights. Measures may embrace information minimization practices, privateness insurance policies per information safety laws like GDPR, and procedures to handle privacy-related inquiries and complaints.
Processing Integrity: This precept focuses on whether or not methods obtain their objective (i.e., ship the appropriate information on the proper worth on the proper time). For Bitfinex, this might contain making certain that transactions are processed precisely, well timed, authorised, and utterly. It’s concerning the correct functioning of the methods used for executing and recording transactions. This contains sustaining the accuracy and validity of buying and selling actions, making certain system performance aligns with its meant use, and that processing errors are recognized and rectified promptly.
“When clients select a digital token trade, their most typical and essential concern revolves round data safety,” stated Riccardo Masutti, Safety Consultancy Companies at Bitfinex. “SOC 2 Sort 2 compliance serves because the business benchmark and supplies a excessive degree of assurance concerning data safety.”
Bitfinex, recognized for its complete platform providing companies reminiscent of spot and margin buying and selling, staking, borrowing, and capital elevating companies, continues to prioritise safety to supply merchants with a trusted and dependable buying and selling surroundings.
For extra data on Bitfinex and its companies, please go to www.bitfinex.com.
*All clients 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 set 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 wide array of digital belongings. Bitfinex’s technique focuses on offering unparalleled help, instruments, and innovation for knowledgeable merchants and liquidity suppliers around the globe. Go to www.bitfinex.com to be taught extra.
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