Broker eToro has announced that it has received SOC 2 Type II certification, attesting to a high standard of data security and privacy in its custody operations.
The SOC 2 Type II audit process is designed to ensure that service providers manage data securely to protect client privacy. For companies, especially those in the technology and cloud computing industries that store client data, this certification plays a key role, according to Fintech Finance.
Achieving SOC 2 Type II certification demonstrates that a service organization is committed to protecting its clients' data and maintaining its trustworthiness. This can give clients confidence that their data is safe, and give service organizations a competitive advantage in the marketplace.
"We value the trust our clients place in us and strive to use the best systems and processes to keep their money and data safe. The SOC 2 Type II certification reaffirms our commitment to operational excellence in custody operations, which is a clear indication of our dedication to ensuring the security and privacy of our clients' data," said Hedva Ber, Deputy CEO and Global COO of eToro.
The SOC 2 Type II certification by the American Institute of CPAs (AICPA) confirms that eToro implements and maintains strict controls and protects client data by adhering to the highest standards of security, integrity, and confidentiality.
Grant Thornton conducted an extensive audit of eToro's systems, processes, and controls from January 8, 2022, to June 30, 2023, resulting in the SOC 2 Type II certification.
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