Regulated, Compliant, Trusted
Squid Pay operates under strict regulatory oversight and maintains the highest standards of security and compliance to protect you and your customers.
Our Certifications & Registrations
CIMA Registered
Registered with the Cayman Islands Monetary Authority (CIMA) as a Money Services Business, subject to ongoing regulatory supervision and compliance requirements.
PCI DSS Level 1
Certified to the highest level of PCI Data Security Standard compliance, ensuring cardholder data is handled with the utmost security and care.
ISO 27001
Certified to the international standard for information security management, demonstrating our commitment to protecting sensitive data.
AML/KYC Compliant
Full compliance with Anti-Money Laundering regulations and Know Your Customer requirements under the Proceeds of Crime Act (2020 Revision).
3D Secure 2.0
Support for the latest 3D Secure protocol providing additional authentication for card-not-present transactions, reducing fraud and chargebacks.
FATF Standards
Operating in compliance with Financial Action Task Force (FATF) recommendations for combating money laundering and terrorist financing.
Regulatory Framework
Cayman Islands Monetary Authority (CIMA)
As a registered Money Services Business, Squid Pay is supervised by CIMA, the Cayman Islands' primary financial services regulator. CIMA ensures that licensed entities maintain proper governance, risk management, and compliance frameworks.
Proceeds of Crime Act (2020 Revision)
We operate in full compliance with the POCA, which establishes the legal framework for combating money laundering in the Cayman Islands. This includes customer due diligence requirements, suspicious activity reporting, and record-keeping obligations.
Anti-Money Laundering Regulations (2020 Revision)
Our AML program is designed to meet the requirements set forth in the AML Regulations, including risk assessment, customer identification, ongoing monitoring, and training requirements for all staff.
Data Protection Act (2021 Revision)
We handle all personal data in accordance with the Cayman Islands Data Protection Act, ensuring appropriate security measures, lawful processing, and respect for individual privacy rights.
Security Measures
256-bit Encryption
All data transmitted through our platform is encrypted using industry-standard TLS 1.3 encryption.
Tokenization
Card data is tokenized immediately, ensuring sensitive information is never stored in our systems.
Fraud Detection
Machine learning-powered fraud detection monitors transactions in real-time for suspicious activity.
Regular Audits
Independent security audits and penetration testing are conducted regularly by certified third parties.
Access Controls
Strict role-based access controls and multi-factor authentication protect all internal systems.
24/7 Monitoring
Our security operations center monitors systems around the clock for threats and anomalies.