How safe and secure is your business with Beanstream?
Completely, totally, safe and secure.
Beanstream is a PCI Level 1 (the highest level) certified service provider, and meets the gold standard of financial security auditing: SSAE 16. This means we hold to the highest industry standards for data protection and network security, and your business and cardholder data is safe with us. As a wholly-owned subsidiary of publicly traded LML Payment Systems Corp., Beanstream also meets strict Sarbanes-Oxley (SOX) standards for financial service providers.
As part of our ongoing security program we perform rigorous checks of our systems, both internally and via independent third-parties, to ensure we meet or exceed card association requirements.
The SSAE 16 auditing standard
SSAE 16 is an enhanced version of the older SAS70 auditing standard. Beanstream completed an SSAE 16 SOC 1 Type 2 audit, which not only ensures appropriate controls are in place, but also performs tests to confirm that they have been effectively utilized during the audit period. The audit covers security systems and operations, giving you complete confidence that your business is always safe and secure with Beanstream. Read more about SSAE 16.
And if that isn’t enough… Beanstream has also completed Type 2 audits to the CSAE 3416 and ISAE 3402 auditing standards.
Canadian CSAE 3416 assurance engagement
The CSAE 3416 (formerly CICA 5970) audit report assures you that Beanstream maintains effective and efficient internal controls related to financial, information, and security reporting. This standard is for Canadian organizations, or those with Canadian customers, and is issued under Canadian Institute of Chartered Accountants (CICA), Canadian Standard on Assurance Engagements (CSAE) 3416. Read more about CSAE 3416.
ISAE 3402 overview
ISAE 3402 provides an international assurance standard on financial reporting for service organizations like Beanstream. International Standard on Assurance Engagements (ISAE) No. 3402, Assurance Reports on Controls at a Service Organization, was issued in December 2009 by the International Auditing and Assurance Standards Board (IAASB), which is part of the International Federation of Accountants (IFAC). Read more about ISAE 3402.
Questions about security?
Want to know more about how your business is completely, totally, safe and secure with Beanstream? We’d love to answer your questions. Call or email us today!