CreditorWatch achieves ATO’s Digital Service Provider certification
First credit reporting bureau in Australia to be deemed compliant with the ATO’s Operational Security Framework
CreditorWatch, a commercial credit reporting bureau with over 50,000 customers across Australia, today announced it has achieved Digital Service Provider (DSP) certification from the Australian Taxation Office (ATO). CreditorWatch is the first credit reporting bureau in Australia to be granted the certification by the government agency.
The ATO performed its security due diligence on CreditorWatch, assessing the company’s data security procedures and uptime against the government agency’s DSP Operational Security Framework before granting certification of compliance.
The DSP Operational Security Framework was established to respond to business risks and security threats presented by the continual expansion and growth of digital services across the ecosystem. The framework seeks to protect Taxation, Accounting, Payroll and Superannuation related data and the integrity of the Taxation, Business Registry and Superannuation systems that support the Australian community. It does this by setting out the requirements a DSP needs to meet in order to access ATO Digital Services that perform a functional role in the supply chain. The requirements reduce the risk of identity theft, tax refund fraud and system hacks, providing controls to protect the confidentiality and integrity of providers’ client data.
CreditorWatch is an Australian-owned credit reporting bureau that provides credit and financial risk information, digitised financials, credit scoring and modelling and API driven data delivery. CreditorWatch’s data enables businesses of all sizes to access credit risk information. Key data highlights include ‘Risk Score’, the most predictive credit algorithm in the Australian market, unique SME payment and default data and ATO tax debt default data.
Patrick Coghlan, Chief Executive Officer of CreditorWatch said, “We’re proud to be the first credit reporting bureau in Australia to achieve the Digital Service Provider certification under the Operational Security Framework. The market is acutely aware of the importance of security and privacy, and the protection of financial and personal data, given recent events that have impacted both Australian businesses and consumers alike. The certification is a reflection of CreditorWatch’s gold-standard data security procedures, including ISO 27001 and 27017. It also acknowledges our market leading uptime, whereby we’ve maintained 99.95% uptime over the past three years."
About CreditorWatch
CreditorWatch is a digital credit reporting agency, headquartered in Sydney. From sole traders through to ASX listed companies, more than 50,000 Australian customers avoid high-risk debtors and ensure they get paid on time. CreditorWatch customers can easily search for and monitor the credit history, court actions, payment defaults and insolvency notices associated with any business entity in Australia and New Zealand (including sole traders, trusts and partnerships) giving them an incredibly accurate picture of the risk posed to their business. The company was founded in 2011 and has offices in Sydney, Melbourne and Brisbane. Find out more at www.creditorwatch.com.au