As a part of Kraken’s dedication to consumer safety, we’ve got finished and handed an unbiased auditor’s exam over inner controls as outlined by way of the American Institute of Qualified Public Accountants (“AICPA”) SOC 2, Kind I compliance same old.
We’d love to proportion information about this procedure and the way it serves our project to be some of the safe crypto exchanges on the earth.
What’s SOC 2, Kind I?
SOC 2, Kind I is an unbiased third-party auditor’s exam over inner controls centered at the safety and availability of methods and knowledge. The audit procedure is helping to make sure that Kraken has applied the vital controls to offer protection to buyer knowledge and price range. AICPA conducts the exam based totally by itself Consider Services and products Standards and based on its Code of Skilled Habits.
The AICPA’s Consider Services and products Standards consist of 5 classes:
- Safety
- Availability
- Processing integrity
- Confidentiality
- Privateness
Each and every class features a powerful set of standards that organizations should meet, relying at the scope of the exam. The AICPA designed the factors to assist organizations establish and cope with attainable dangers and vulnerabilities of their knowledge methods. Organizations should additionally show that they’ve applied suitable controls to offer protection to their knowledge methods from unauthorized get entry to, use, or disclosure.
What does SOC2, Kind I imply for you?
For Kraken, the crowning glory of the SOC 2, Kind I exam demonstrates our dedication to safety and the safety of shopper knowledge and price range. Kraken completed its SOC 2, Kind I record inside the Safety and the Availability Consider Services and products Standards as outlined by way of AICPA. The record covers Kraken’s investment products and services and custody functions.
We consider that the auditor’s unqualified opinion demonstrated that Kraken had remarkable inner controls on safety and availability.
So, what does this imply for you?
It implies that we provide evidence, no longer guarantees, about our world-class safety. In pleasurable the necessities for SOC 2, Kind I, we’ve got demonstrated that our safety practices meet international requirements. This exam lets in us not to simply declare, however independently end up that your protection and privateness at Kraken are paramount.
For Kraken, the dedication to critiques carried out by way of unbiased auditors and different our bodies is a testomony to our unwavering dedication to demonstrating that our shoppers’ price range, NFTs, and privateness are safe.
“We proceed to degree up our safety, availability, privateness and accept as true with for our stakeholders. I’m extraordinarily happy with our staff at Kraken for reaching this milestone. The audit used to be a big effort that spanned many months and used to be cross-functional involving more than one groups,” mentioned Koushik Subramanian, Director of Safety Chance Control at Kraken.
Protected your crypto adventure
Kraken incessantly explores avenues to validate the energy of our safety program and dedication to an efficient inner regulate setting. The issuance of the SOC 2, Kind I opinion for Kraken’s custody and investment provider demonstrates our dedication to our shoppers’ privateness and safety.
Kraken stays devoted to the continuing enhancement of our regulate program and deepening our investments within the cutting edge security features that stay you secure. Our collaboration with unbiased third-party assessors and auditors is helping validate our efforts for all to look. We’re proud to be identified as a virtual asset platform this is dedicated to protective your monetary freedom.