The Sarbanes-Oxley (SOX) Act of 2002 legislates how long and the manner in which companies store their financial records. Created largely in response to a number of major corporate and accounting scandals, the SOX act is designed to safeguard against accounting errors and other illegal financial activities. The Sarbanes-Oxley Act states that all business records, including electronic records and electronic messages, must be saved for "not less than five years” to ensure that the auditors and other regulators can easily obtain requested documents. In placing a more rigorous requirement on financial reports the storing of the records becomes vitally important because the trail of transactions must be secure.

As an online data storage facility, Genie-Soft is not secluded to the contents of the information stored for a client. The customer must maintain responsibility for ensuring that it is in compliance as to what information is being kept and who in the organization (including independent auditors) has access. Genie-Soft maintains responsibility for the availability and security of the information being stored and has put safe guards in place to ensure quality control standards, including the following:

Genie-Soft helps you comply with Sox ACT in each of these areas
         

• The data files backed up are encrypted on transmission using 128-bit SSL and the data files can be stored using up to AES 256-bit encryption and automatically decrypted during restores. The encryption is done based on a user defined key, so the data stored on Genie Online servers cannot be decrypted by anybody other than you or a designate using the correct password.
• Client access is only through authorized personnel with the encryption password which is known only to the client.
• All backups and uploaded data are immediately available.
• Data remains in the Genie Online customer storage areas for as long as the client retains it.