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April 22, 2008

Control measures of CyberPlat correspond to the international standards

CYBERPLAT OJSC, creator and operator of the largest payment system in Russia — CyberPlat, has successfully passed operational audit in accordance with the international standards of SAS 70, type I. The SAS 70 standard is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants. It defines requirements for preparation of reports on internal control system of the organizations, which render services. This standard is widely applied in the international practice.

The audit was led by the KMPG Limited company, which enters “a great four” of outstanding auditing and consulting firms.

The audit, under SAS-70 standards, describes and analyzes the purposes and instruments of the internal control when effecting payment system transactions, information interaction, in exercising of corporate procedures, audit of registration operations, condition of information systems and technologies, as well as the control measures, which are necessary for realization on the party of CyberPlat customers.

The auditing company has stated that, during auditing, no considerable disadvantages of control measures has been discovered, and has concluded, that the control measures, analyzed within the limits of auditing, have been designed and introduced in a proper way.

Thus, the well-known auditing company has confirmed, that control measures of CyberPlat meet respective international requirements.

“CyberPlat is always very attentive in a legal, financial and technological correctness of its actions. It is one of the key factors providing CyberPlat leadership in the Russian market of electronic payments”, — the General Director of CYBERPLAT OJSC, Andrey Gribov, stated.

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CYBERPLAT OJSC is the leading Russian Internet company offering its services in the e-commerce segment, including payment processing and secure on-line document interchange. The company’s product CyberPlat®, the universal multibank integrated internet-payment system, is the absolute leader in the payment acceptance market. Currently, the CyberPlat® cash acceptance network consists of over 170 000 points of sale, accepting cash payments for the benefit of leading telecommunication service providers, commercial television and numerous other service providers nation-wide, including Beeline, MTS, Megafon, Tele2, NTV-Plus and many others. The total turnover of the system amounted to 120.7 billion rubles (or 4.74 billion US dollars) in 2007. The CyberPlat® electronic payment processing system is the member of GSM Association. BDO Unicom is the official auditor of CyberPlat®.

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