AVAA has introduced an Online Auction Accreditation Program for its Corporate members. The Accreditation Program seeks to ensure that AVAA Corporate members have data privacy, information security, and risk management tools and practices in place for users of their platforms. This will build trust and confidence in AVAA-accredited online auction platforms.
The Online Auction Accreditation Program introduces minimum standards for online auction houses across the following areas:
- Information Security Management Policy
- Cyber Security Policy
- Compliance with PCI Data Security Standards
For members to be accredited they will need to submit to the AVAA the following:
- The Application for Online Auction Accreditation Form (it can be downloaded here). The Application Form states that the member has implemented policies and practices in their business to protect the business systems and data it holds.
- Copies of the members’ policies in information security, cyber security, and PCI data security. These policies can be existing policies that the member already has in place or policies the member has developed using the AVAA Online Cyber Risk and Compliance policy templates (further information on AVAA policy templates).
AVAA will review the materials submitted to ensure that the materials meet the requirements of the Online Auction Accreditation Program. AVAA will issue a letter to the AVAA member advising that its application has been successful.
Upon receipt of the AVAA member’s application form (and accompanying policies), AVAA will issue an invoice to the AVAA member for payment of the annual Online Auction Accreditation fee. This annual fee will be calculated at 50% of the AVAA Corporate member’s annual membership fee. Payment of the fee will trigger the commencement of the AVAA review process. The accreditation fee is non-refundable.
If the AVAA member has purchased the AVAA’s Online Cyber Risk and Compliance policy templates, the first year’s fee is waived. For future years, the annual Online Auction Accreditation fee will be calculated at 50% of the AVAA member’s annual membership fee.