Organizations subject to industry or cybersecurity regulations are required by law to meet compliance.
Companies found to be non-compliant may face stiff fines and penalties if a breach should occur. Strict adherence to cybersecurity compliance requirements reduces the risk of a data breach and the associated response and recovery costs, as well as the less-quantifiable costs of a breach such as reputation damage, down-time, and loss of business.
Having solid cybersecurity compliance measures in place, enables you to protect your businesses reputation, maintain consumer trust, and build clientele loyalty by ensuring that your customer’s sensitive information is safe and secure.
Let’s take a look at 3 things you may be missing in compliance:
- Establishing a Risk Analysis Process: As more standards and regulations focus on taking a risk-based approach to compliance, organizations of all sizes need to engage in the risk analysis process.
- Set Controls: Based on your risk tolerance, you need to determine how to mitigate or transfer risk.
- Continuous Monitoring: All compliance requirements focus on how threats evolve. Cybercriminals continuously work to find new ways to obtain data and we must continuously monitor.
Meeting regulated compliance standards and requirements has benefits for organizations beyond protecting sensitive data as required by law.
Implementing the appropriate safeguards and security measures to protect sensitive customer and employee information assist your company’s security stance, which also helps to protect intellectual property and other information that gives your company a competitive advantage.
Are you and your business covered in the event of an attack, natural disaster, or technology failure? Click the link to receive a cyber security assessment that will tell you exactly how at risk your business is.