1. Introduction:
Flitpay is committed to safeguarding the confidentiality, integrity, and availability of all its users' data and digital assets. The cybersecurity policy outlines the principles, processes, and measures implemented by Flitpay to protect against cyber threats and ensure the safety of our platform, users, and transactions. This policy adheres to the highest standards of cybersecurity and complies with relevant Indian regulations, including the Information Technology Act, 2000, and other applicable guidelines issued by regulatory authorities.
2. Key Cybersecurity Measures:
a. Data Encryption and Security:
Flitpay uses industry-standard encryption techniques (SSL/TLS) to secure all data exchanged between users and the platform. All sensitive user data, including personal information and transaction details, is encrypted both in transit and at rest.
b. Multi-Factor Authentication (MFA):
We implement multi-factor authentication (MFA) for all user accounts to ensure that only authorized users can access their accounts and conduct transactions.
c. Cold Storage for Digital Assets:
Flitpay stores the majority of user funds in multi-signature enabled cold wallets, significantly reducing the risk of theft through cyber attacks. Only a small portion of funds is kept in hot wallets for operational liquidity.
d. Network Security and Firewalls:
Flitpay's network infrastructure is protected by advanced firewalls and intrusion detection/prevention systems (IDS/IPS) to monitor and prevent unauthorized access to the platform.
e. Application Security:
Flitpay employs secure coding practices, regular penetration testing, and vulnerability scanning to protect against potential threats in our applications and website.
f. Employee Training and Awareness:
We provide regular cybersecurity training to our employees to ensure that they understand the latest threats and best practices for preventing cyber incidents.
3. Incident Response and Reporting:
Flitpay has a well-defined incident response plan that enables quick action in the event of a cybersecurity breach. Any suspected incidents are reported to the relevant authorities in compliance with applicable laws, and affected users are notified promptly.
5. Compliance with Indian Laws and Regulations:
Flitpay ensures compliance with all applicable Indian laws, including the Information Technology Act, 2000, and the guidelines issued by regulatory bodies such as the Reserve Bank of India (RBI) and the Financial Intelligence Unit of India (FIU-IND). Flitpay also follows global best practices to align with international security standards.
6. Continuous Monitoring and Improvement:
Flitpay continuously monitors its security infrastructure and implements improvements as new cybersecurity threats emerge. We actively update our systems, protocols, and practices to ensure that we provide a secure and reliable platform for our users.
This cybersecurity policy will evolve in response to the changing threat landscape and regulatory requirements. Regular reviews and updates ensure that Flitpay maintains a high level of security and provides users with a safe environment for trading and investing in cryptocurrencies.