Security | Currencycloud (2024)

Security | Currencycloud (1)

Security | Currencycloud (2)

Security | Currencycloud (3)

Last updated: January 2024

At Currencycloud we take the security of your data and money very seriously. We are ISO/IEC 27001:2022 compliant and consistently review and enhance our processes and systems to ensure that we remain secure.

Physical security

Our service operates on Amazon Web Services (AWS) which is certified under a number of global compliance programmes which underlines best practices in terms of data centre security.

  • ISO 27001 Information Security Management Controls
  • PCI-DSS Level 1 Payment Card Standards
  • ISO 27018 Personal Data Protection
  • SSAE16/SOC 1, SOC2 and SOC 3
  • FIPS United States Government Security Standards

For the full list of AWS compliance programs see:https://aws.amazon.com/compliance/pci-data-privacy-protection-hipaa-soc-fedramp-faqs/

More information about AWS data centre controls may be found here:https://aws.amazon.com/compliance/data-center/controls/

Network security

We have dedicated systems in place to protect againstDistributed Denial of Service (DDoS) attacks as well asman-in-the-middle attacks.We usereputable registrars to protect against domain hijacking and “phishing” attacks.

Our platform undergoes regular penetration testing and has protection in place against common vulnerabilities like code injection attacks and cross-site scripting attacks.

Encryption

All network traffic is encrypted at a transport level and confidential information is encrypted at rest. We use best practices in terms of encryption key storage and security.

Information security

Our platform and operational security is certified under ISO/IEC 27001:2022, the international best practice standard forInformation Security Management Controls which is independently audited.

We also comply with best practices and regulations pertaining to the management of personal data under the UK Data Protection Act (DPA), as well as the European Union General Data Protection Regulation (GDPR).

Strong access control

Our platform provides a role based, hierarchical security model with two-step authentication and multi-factor authentication for sensitive systems. Access is logged, monitored, and audited for suspicious behaviour.

Use Currencycloud with confidence

Your money and your data is as important to us as it is to you. Here are some of the things we do to make sure that you can use our services with peace of mind.

Authorized by the FCA

Currencycloudis authorized by theFinancial Conduct Authority for the issuing of electronic money and the provision of payment services with FCA registration number 900199.

Currencycloud is registered with FinCEN in the USA and authorized to provide both domestic and international money transmitting services in all 50 states. We hold Money Transmitter Licenses (MTLs) in 39 states and leverage regulatory sponsorship via our network of banking partners while we actively pursue the remaining licenses.

Trusted by millions

At Currencycloud we process over $1bn a month on behalf of hundreds of thousands of people and companies.

Privacy

We comply with best practices and regulations pertaining to the management of personal data under the UK Data Protection Act (DPA), as well as the European Union General Data Protection Regulation (GDPR).

Find out more

Secure Platform

We are ISO/IEC 27001:2022 compliant and have robust processes to protect our systems.

Safeguarded bank accounts

Your money is held in separate accounts with tier one banks. In the unlikely event of Currencycloud ceasing to exist, your money remains protected..

Security | Currencycloud (2024)

FAQs

What is a good security answer? ›

The answer to a good security question should be obvious. In addition, it should be easy to remember, but at the same time remain secret to others. The answer should be immediately remembered as soon as the user receives the security question.

What is the security question answer? ›

Security Question & Answer means an answer used to verify the identity of a User when the User resets the User's Compliant Password.

What do you write in a security answer? ›

Pretend you are someone else when answering the questions.

Make sure you remember who you pretended to be, or write it down somewhere safe. 5. If you use a password manager (e.g. KeePass, LastPass), use answers that have nothing to do with you personally and store them along with your account information.

What should I put as my security question? ›

Good security questions should have answers that are easy for the user to remember but difficult for someone else to guess. For example, questions about personal preferences or experiences can be effective, such as “What is your favorite movie?” or “What was the name of your first pet?”

What is security in short answer? ›

: something that secures : protection. b(1) : measures taken to guard against espionage or sabotage, crime, attack, or escape. (2) : an organization or department whose task is security.

What are the 4 basic of security? ›

The four basic layers of physical security are design, control, detection, and identification. For each of these layers, there are different options that can be utilized for security. Physical security design refers to any structure that can be built or installed to deter, impede, or stop an attack from occurring.

How do you create a security answer? ›

In that sense, treat security answers like passwords—the more obscure, the better. Use a password manager: Remembering randomized text strings is much more difficult than truthful, personal details. That's why it's worth using a password manager to store your security answers, so you don't lose track of them.

What are common security questions? ›

Here are examples of some common security questions:
  • In what city were you born?
  • What is the name of your favorite pet?
  • What is your mother's maiden name?
  • What high school did you attend?
  • What was the name of your elementary school?
  • What was the make of your first car?
  • What was your favorite food as a child?
Jul 26, 2022

What is security question hint? ›

A security question is form of shared secret used as an authenticator. It is commonly used by banks, cable companies and wireless providers as an extra security layer.

Why do I need to answer security questions? ›

Security questions are meant to help reset passwords, reopen locked accounts, and ultimately protect your digital spaces from attacks or breaches, but such safeguarding is widely considered flawed and unreliable .

What is your strength in security? ›

Answer Example: “My greatest strength as a security guard is my attention to detail. I am always paying close attention to my surroundings, which helps me notice any unusual activity or suspicious behavior. This has helped me prevent many crimes from happening at the places I've worked.

What is security and an example? ›

Security means safety, as well as the measures taken to be safe or protected. In order to provide adequate security for the parade, town officials often hire extra guards. A small child will sometimes latch on to a blanket or stuffed animal that gives him or her the feeling of security.

What should my security phrase be? ›

We recommend that you use passphrases, as they are longer and easier to remember than a password made up of random, mixed characters. A passphrase is a memorized phrase consisting of a sequence of mixed words with or without spaces. Your passphrase should be at least 4 words and 15 characters in length.

What if I forgot the answer to my security question? ›

If you forgot both your security question answers, there are two things you can do. If you have a computer that you have chosen to “Remember computer” on, you can log in on that computer and reset your security questions.

What is a good security question for an e-transfer? ›

Examples of good security questions
Effective Security QuestionRationale
What was the make and model of your first car?The question asks for precise and specific details.
In what city or town did your parents meet?This is a personal detail. And since there are many potential answers, it's harder for people to guess.
3 more rows
Mar 4, 2021

What is a security question hint? ›

It is important to remember that a security question is just another password. Therefore, a security question should not be shared with anyone else, or include any information readily available on social media websites, while remaining simple, memorable, difficult to guess, and constant over time.

What is it security in simple words? ›

IT security, which is short for information technology security, is the practice of protecting an organization's IT assets—computer systems, networks, digital devices, data—from unauthorized access, data breaches, cyberattacks and other malicious activity.

What is an acceptable security? ›

Acceptable Security . – means a Security determined by the Corporation as acceptable for purposes of clearing Fixed Income Transactions and Futures for which the deliverable security is a fixed income security.

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