IT security compliance standards are put in place by regulatory bodies to help organizations strengthen their security, improve processes, meet privacy requirements and achieve other critical business objectives. No two businesses are the same, which means they may not be required to comply with the same rules and regulations. Companies need to understand what IT security compliance standards pertaining to their unique industry and how to effectively comply with these standards to avoid hefty fees and penalties.
Importance Of IT Security Compliance
Many organizations are mandated to create systems that protect the privacy and security of customer data. There are several key reasons that these IT security compliance standards exist and are closely monitored.
Regulations are developed to help companies improve their information security strategies by providing best practices and guidelines based on their industry and the type of data they manage and store. Non-compliance with these standards can result in consequences like data breaches.
Businesses can also enjoy a variety of benefits when they choose to comply with IT security compliance standards. IT security compliance helps to protect a company’s reputation. According to Forbes, there have been more than 300 data breaches involving the theft of over 100,000 records. IT security compliance standards can help enhance a company’s data management capabilities and dramatically reduce the risk of breaches.
Other key benefits of IT security compliance standards include:
- Increased control over business security resulting in fewer errors and a reduction in internal and external threats.
- Fewer financial losses due to data breaches and associated costs, such as repair expenses and legal fees.
- Improved security measures by following IT security compliance best practices and guidelines.
- Maintained trust with customers as consumers are more likely to trust a company if they know that their information is safe.
Common IT Security Compliance Regulations
Many U.S. information technology security compliance standards now exist. Some of the most common include:
The General Data Protection Regulation (GDPR) is a security and privacy law created by the European Union (EU). The standard was made to protect citizens in the EU from data breaches and applies to all businesses that process personal data for people that live in the EU, including companies not physically based in the European Union.
The Health Insurance Portability and Accountability Act was passed in 1996 by Congress and is a federal law. HIPAA includes a series of standards for health care data on electronic billing. It also allows for the transfer and continuation of health insurance for American employees and their families when they lose or change jobs.
The Payment Card Industry Data Security Standard (PCI DSS) is a widely-known security standard designed to help businesses proactively protect customer account data. This standard was formed in 2004 by MasterCard, Visa, American Express, JCB International and Discover Financial Services and helps secure debit and credit card transactions against fraud and theft.
The National Institute of Standards and Technology (NIST) is a critical resource for technological security and advancement at many businesses across the country. Complying with NIST standards is an important priority in nearly all industries that deal with tech. NIST standards are based on best practices from security organizations, publications and documents.
The Federal Information Security Management Act (FISMA) was established in 2002 and enforces federal agencies to develop and implement data security and protection programs. The standard was introduced to help reduce security risks to federal data while managing federal spending on data security.
The Center for Internet Security (CIS) Controls are a widely-accepted set of actions for cyber defense. These standards were put in place to help prevent dangerous cyber attacks and other internal and external threats. The main objective of the Controls is to protect vital infrastructure, assets and information.
Meeting IT Compliance Requirements
Complying with IT security standards can be a complex endeavor that can present a great deal of challenges to businesses of all sizes. Today’s technology compliance rules often require businesses to continually monitor their processes and applications, which can be both costly and time-consuming. To meet IT compliance requirements, organizations must create and implement solutions that are effective, affordable and non-intrusive.
One of the best ways to ensure that IT compliance requirements are met is to work with an experienced IT security firm. In addition to avoiding fines, businesses that use IT security services can benefit from improved customer relations, better partnerships and operational benefits.
Speak With An IT Security Compliance Firm
SeaGlass Technology is an experienced IT security compliance firm that offers expert IT security compliance services. Gain a deeper understanding of your business’s security threats and how to protect your company from these risks best. For more information about IT security compliance standards or to speak with a knowledgeable IT security compliance professional, reach out to SeaGlass Technology today.