What is SOC-2 Compliance?
SOC-2 (Service Organization Control 2) compliance is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). It focuses on evaluating the security, availability, processing integrity, confidentiality and privacy of data within service organizations.
SOC-2 compliance is specifically designed for technology and cloud-based service providers that manage confidential customer information. Its focus is on verifying that these organizations have put in place strong safeguards and controls to protect the sensitive data that is under their stewardship.
To achieve SOC-2 compliance, service organizations undergo a comprehensive audit conducted by independent third-party auditors. The audit evaluates the organization's policies, procedures and practices to determine whether they meet the stringent criteria set by the AICPA.
The audit assesses various aspects of data security, including network security, system monitoring, access controls, data encryption, incident response, and physical security measures. It also evaluates the organization's ability to maintain the availability and integrity of its systems and data.
The SOC 2 consists of two reports:
- Type 1 - describes the information security management system and evaluates its adequacy with respect to the standard control points.
- Type 2 - assesses whether the information security management system actually functions (describing evidence of security functioning over a minimum period of six months).
Cypherdog: Pursuing SOC-2 Compliance to Protect Sensitive Data in Regulated Industries
Cypherdog pursues SOC-2 compliance to meet the requirements of technology solution providers serving a variety of industries, including finance, banking, insurance, and more. SOC-2 compliance has become a crucial expectation and a mandatory credential for organizations operating in these sectors. By obtaining SOC-2 compliance, Cypherdog demonstrates its commitment to maintaining the highest standards of data security, privacy, and confidentiality. This certification allows Cypherdog to offer its encryption and data protection solutions to clients in regulated industries, assuring them that their sensitive information is handled and secured in accordance with industry best practices and compliance standards.
How does Cypherdog support SOC-2 Compliance?
Cypherdog, on the other hand, helps organizations achieve SOC-2 compliance by offering cutting-edge encryption and data protection solution. Its encryption technology, based on asymmetric algorithms, ensures the highest level of data security and confidentiality. Cypherdog's solution enables the encryption of stored and transmitted data, preventing unauthorized access and data breaches. By using Cypherdog, organizations establish the necessary measures and controls for SOC-2 compliance, mitigating the risk of data breaches and maintaining the security of customer data.