Lithuania certified by ISO 27001:2005 standard
Lithuanian credit bureau, Creditinfo, have implemented an information security management system that ensures greater protection of data stored and saved in the credit bureau system.
Creditinfo Lithuania’s information security management system meets the ISO/IEC 27001:2005 certificate requirements. The project was implemented by the EU Structural Funds Program Process LT, during March 2013 to March 2014.
“In everyday activity we deal with large amounts of information that is provided by financial, telecommunications, power supply and other industry sectors. Our information security risk management has always complied to the highest standards, however, from now on it is also approved by the ISO certificate. This will increase the confidence of both data providers and residents whose credit history is collected in the credit bureau“, advises Andrius Bogdanovicius, Chief Executive Officer, Creditinfo Lithuania.
ISO/IEC 27001:2005 specifies the requirements for establishing, implementing, operating, monitoring, reviewing, maintaining and improving a documented Information Security Management System within the context of an organization’s overall business risks. It specifies requirements for the implementation of security controls customized to the needs of individual organizations. It is designed to ensure the selection of adequate and proportionate security controls that protect information assets and give confidence to interested parties. Abstract from www.iso.org
Creditinfo Lithuania continually invests in research and development (R&D) activities, creating new services related to credit risk management, also regularly upgrading all the administered credit risk systems.
The credit bureau has operated in Lithuania since 2003. The initiators of the Lithuanian credit bureau were the banks, along with participation from leasing and telecommunication companies active in Lithuania. Currently, the credit bureau in Lithuania is utilised by all active Lithuanian banks and telecommunication companies, as well as leasing, insurance, electricity providers, petrol stations and other companies from numerous business sectors.