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Who Needs SOC 2, ISO 27001, GDPR?

The “European Union General Data Protection Regulation” has put some significant new responsibilities and liabilities on the data controllers in the regards of their use of third-party processors. That means the data controllers will face increased requirements for understanding and contractually stipulating the policies and procedures of their processors according to the GDPR.

Well, two of three most commonly sought after privacy and security frameworks are ISO 27001, GDPR, and SOC 2. But, do you know, what are these processes? And, what kinds of information and practices are reviewed with these processes? And, how can these processes be used for the procurement and vendor-management purposes? And, maybe more importantly, Who needs SOC 2, ISO 27001, GDPR?

Compliance Certifications And Regulations

SOC 2 Certification –
SOC 2 is an information security compliance standard that is used across the United States and it is a part of a Service Organization Control reporting platform known as the “American Institute of CPAs’ which is. However, the intent of this certification is to ensure the safety and privacy of organizations’ customer’s data.

SOC 2 compliance operated with five trust service principles, which are as follows:

  • Security
  • Availability
  • Processing Integrity
  • Confidentiality 
  • Privacy of customer data

Hence, it is a framework for safeguarding data. Well, Systems and Organization Controls (SOC) 2 was developed by the “American Institute of CPAs which is also known as AICPA. And, it is a voluntary standard of compliance for the service providers which has two types:

  • Type I
  • Type II

Well, generally a SOC 2 certification is issued by the external auditors.

Type I Reports

Type 1 reports vouch for the service’s systems while investigating about whether the chosen controls support the organization’s objectives and principles or not.
That means, these reports reflect the system performance at a point in time.

Type II Reports

In addition to the information provided in a Type I report, the Type II reports of SOC 2 compliance detail the operational efficiency of these controls.

And, these reports reflect system performance over a 6-12 month period and not just at a point in time.

And as we said earlier, the SOC 2 compliance hinges on five principles of security, availability, processing integrity, confidentiality, and privacy, so demonstrating this full compliance with all five TSCs will give your organization a competitive advantage and this is especially true for the industries that require higher compliance standards i.e. the financial sector.

ISO 27001

This is an internationally recognized standard which calls for ISMS (Information Security Management System) in an organization. However, such a system ensures that the information that has been processed within the organization can be administered appropriately.

ISO 27001 Standard lays out the specifications for implementing and managing ISMS (information security management system). And, it is the international standard for information security which is a more rigorous compliance process and addresses the people, the processes and the technology.

Hence, the ISO 27001 framework contains best practices that are chosen from a list of “114 Annex A Controls” that cover all the areas of an organization, the organizational issues, the human resources, the information technology, the legal issues, and the physical security. However, these controls are identified and implemented which is based on a risk assessment.

Well, based on this, an ISMS Security Standard ensures the confidentiality, the integrity, and the availability of the important information by addressing the security issues across the organization. However, to obtain an ISO 27001 certification, the organizations must choose an independent accredited certification body like SOCLY.io.

GDPR

GDPR is an EU legislation that provides the privacy protection guidelines for the organizations that are operating in the EU. However, the GDPR applies to all kinds of businesses and organizations within the EU countries and especially to those companies that collect and process some sort of personal data from their customers.

However, this law is also applicable to the companies that are outside the EU and that offer the products and services to EU-based customers. That means, almost all the international-scale businesses as well as the website owners are required to comply with this GDPR regulation. And, if they fail to comply with the GDPR then it may result in a huge fine.

So from the monetary perspective alone, it becomes very clear that the GDPR compliance is an important aspect that you should consider when running an international business or a website. Well, making your website GDPR compliant should also be your top priority because in today’s time customers value their data privacy more than ever.

Did you know, around 80% of website users said that they would stop interacting with a website or a brand the site owner uses their data without their knowledge.

How Can SOCLY.io Help You With These Compliances?

Information security and privacy is the inherent part of our values at SOCLY.io. And, to optimize our Information security compliance, we have automated our compliance processes and a tried and tested framework is also in place to identify and mitigate some potential slippages in real-time.

However, these compliances fortify our commitment to “Information Security and Data Privacy” while assuring our customers, our partners, and our vendors that we adhere to secure the information security practices across the board.
In fact, this also means that we take the proactive measures for protecting any data that is residing with us and you as our customers can just sit back and relax because your data is in safe hands with SOCLY.io.

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Privacy Policy

Last updated: 8 November 2022This privacy policy (“Policy”) explains how Socly Solutions Private Limited or any of its affiliates or subsidiaries (hereby collectively referred to as (“SOCLY.io”, “We”, “Us”, “Our”) Processes Personal Data collected from You. This Privacy policy applies to all the clients and employees of the organization.

Personal data collected by us

You directly provide Us with most of the data We collect. We collect Personal Data from You directly when You subscribe for any of Our Service(s) by agreeing to the Terms of Service, We collect sign-up and account information including Your name,phone number and e-mail address. We may also receive Your Personal Data indirectly as follows:From third party sources like marketing lists, databases and social media but only where We have checked that these third parties either have Your consent or are otherwise legally permitted or required to disclose Your Personal Data to Us.

Purposes for which personal data will be processed

We Process Your Personal Data to:
  1. Facilitate Your access to the Website(s) and Service(s);
  2. Provide customer service and support;
  3. Send You communication on Your use of the Service(s), updates on Our Terms of Service or other policies;
  4. Send You communication on new features in the Service(s) or new service offerings;

Purposes for which personal data will be processed

We Process Your Personal Data to:
  1. Facilitate Your access to the Website(s) and Service(s);
  2. Provide customer service and support;
  3. Send You communication on Your use of the Service(s), updates on Our Terms of Service or other policies;
  4. Send You communication on new features in the Service(s) or new service offerings;

Sharing of personal data

We do not share personal information.

Retention of personal data

We retain personal information till such time your company has subscribed to our services.

Security of personal data

We use appropriate technical and organizational measures to protect the Personal Data that We collect and Process. The measures We use are designed to provide a level of security appropriate to the risk of Processing Your Personal Data. If You have questions about the security of Your Personal Data, please contact Us immediately as described in this Policy.

Your rights

You are entitled to the following rights:
  1. You can request Us for access, correction, update of Your Personal Data.
  2. You can object to the Processing of Your Personal Data, ask Us to restrict/ stop processing of Your Personal but that can only be done if you stop using our compliance portal

Contact Information

You may contact us if You have any inquiries or feedback on Our personal data protection policies and procedures, or if You wish to make any request, in the following manner: Kind Attention: Privacy Team Email Address: hello@socly.io or You can use the Contact us section in our portal
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