VerifyVASP Completes SOC 2 Type II Assessment

We are pleased to announce that we have successfully completed our SOC 2 Type II assessment, building on the SOC 2 Type I assessment completed in January 2023.

SOC or System and Organisation Controls is a suite of compliance standards defined by the American Institute of Certified Public Accountants (AICPA) that assesses a service organisation’s controls around the trust principles of security, availability, processing integrity, confidentiality or privacy.

SOC 2 Type I describes a vendor’s systems and whether their design is suitable to meet relevant trust principles.

SOC 2 Type II details the operational effectiveness of those systems and whether controls are designed and functioning as intended over a specified period of time following a Type I assessment.

The VerifyVASP platform was assessed for SOC 2 Type II from 1 May 2023 to 31 January 2024.

The purpose of this SOC 2 Type II assessment is to provide clients of VerifyVASP’s Platform and Service with details on the control environment that VerifyVASP has in place to meet the Trust Services Criteria of Security, Availability and Processing Integrity.

This independent assessment reiterates VerifyVASP’s commitment to ensuring industry best practices and standards are embedded in all that we do, repeatedly and consistently.

Our solutions have been road-tested and proven to scale. We are architected to the strictest data protection and policy requirements, facilitating in excess of 7.5 million verifications representing over US$130bn in asset value. As a global leader amongst Travel Rule solution providers, we appreciate the trust our members have placed in us. We will continue to conduct periodic independent audits and where possible transparently share audit reports with our clients.