Safeguarding Trust – ISO 27001:2022 Compliance in Debt Collection
In the debt collection industry, where sensitive financial and personal data is handled daily, ensuring robust information security is paramount. As the Head of Quality Assurance and Compliance at Access Mercantile, I've witnessed firsthand the impact of implementing the latest Information Security standard - ISO 27001:2022 within our business.
Why being on the latest ISO 27001:2022 Standard Matters
Access is proud to be one of the earlier adopters of the latest ISO 27001:2022 standard which has x93 controls, with x11 new controls that aligns better with modern cybersecurity threats, enhances cloud security; data privacy and risk management along with overall strengthening of security incident monitoring and responses. The standard is internationally recognised standard that outlines the requirements for establishing, implementing, maintaining, and continually improving an Information Security Management System (ISMS). For Access Mercantile, ISO 27001 certification demonstrates a commitment to protecting client data, complying with legal obligations, and mitigating information security risks. Moreover, ISO 27001 aligns with Australian legal requirements, including the Privacy Act 1988 and the Australian Privacy Principles (APPs). This alignment ensures that our data handling practices meet national standards, thereby reducing the risk of legal repercussions and enhancing our reputation in the industry.
Our Information Management System (IMS) serves as the backbone for managing documents, records, and compliance obligations, facilitating seamless information flow across departments. Complementing this, our information Quality Framework (IQF) establishes clear protocols for quality assurance, enabling continuous monitoring and improvement of our services. Together, these systems ensure that our operations remain transparent, efficient, and aligned with regulatory requirements.
Recognising that technology is only as strong as its users, we have a comprehensive cybersecurity awareness training program, which educate our staff on identifying threats, adhering to security protocols, and fostering a culture of vigilance. Regular training sessions ensure that our team remains informed about emerging cyber risks and best practices for mitigation.
More than a compliance ‘tick the box exercise’
Achieving ISO 27001 certification is not merely a compliance exercise: it's an investment in our business's reputation and operational integrity. By prioritising information security, Access Mercantile can protect our clients' data and position ourselves as trustworthy partners in the industry.