IT security compliance is a major concern for enterprises in many industries. Regulatory standards, such as HIPAA, GDPR, NIST and FISMA, publish recommendations for businesses on how to best protect sensitive data and improve IT security management. With a steady increase in IT security breaches, it is more important than ever to streamline securiety compliance initiatives with assistance from IT security compliance experts.
IT Security Compliance Definition
According to Verizon’s 2020 Data Breach Investigations Report, an estimated 28 percent of data breaches involved small businesses. When a company becomes the victim of a hacker, resulting in compromised information or system corruption, they risk both legal issues and performance disruptions.
IT security compliance aims to eliminate these occurrences by ensuring that all businesses stay ahead of evolving security requirements. To maintain compliance, businesses must have a proven strategy for establishing risk-based controls that protect the confidentiality, integrity and accessibility of processed, stored or transferred information. Many types of data are subject to IT security compliance. This includes personally identifiable information, such as name, date of birth, address, social security number and mother’s maiden name. It also includes protected health information, such as medical history, prescription records and insurance records. Financial data, such as credit card numbers and bank account numbers, are also protected by regulations.
Many types of data are subject to IT security compliance. This includes personally identifiable information, such as name, date of birth, address, social security number and mother’s maiden name. It also includes protected health information, such as medical history, prescription records and insurance records. Financial data, such as credit card numbers and bank account numbers, are also protected by regulations.
Important IT Security Compliance Regulations
Information security laws apply to a large number of organizations and are enforced by auditors and regulators. Many of these regulations are mandatory and are put in place to improve security, minimize losses, increase control and maintain trust with consumers. Some of the most common IT security compliance regulations include:
The Secretary of the U.S. Department of Health and Human Services (HHS) developed the Health Insurance Portability and Accountability Act (HIPAA) in 1996 to protect the security and privacy of patient health information. The HHS published what is known as the HIPAA Security Rule, as well as the HIPAA Privacy Rule.
HIPAA enables American employees and their families to retain health insurance coverage, even when they lose or change their job. It also helps to reduce health care abuse and fraud. HIPAA is also responsible for mandating industry-wide standards in the U.S. for health care information on electronic billing.
The General Data Protection Regulation (GDPR) is Europe’s new data security and privacy law that contains extensive new requirements for businesses worldwide. The law was passed by the European Union (EU) and was put into effect on May 25, 2018. Those that violate the GDPR’s security and privacy standards face large fines.
Under the GDPR, businesses are required to securely handle data by implementing appropriate organizational and technical measures, such as end-to-end encryption and two-factor authorization. In addition, data protection should encompass all aspects of a business and be considered when designing any new product or system process.
The National Institute of Standards and Technology (NIST) is an agency within the U.S. Department of Commerce that sets standards in the tech and science industries. Businesses that voluntarily comply with NIST guidelines can help ensure compliance while also contributing to HIPAA and Sarbanes-Oxley (SOX) mandates.
Although all businesses should consider complying with NIST compliance standards, any organization that does business with the government must adhere to them. This includes service providers, consulting companies, research institutions, procurement service companies, government staffing firms, higher learning institutions and manufacturers that sell to the government. Complying with NIST standards can help enterprises protect crucial infrastructure from cyber attacks and insider threats.
The Federal Information Systems Management Act (FISMA) is a U.S. government legislation established to protect government information, assets and operations from threats. The Act was signed into law in 2002 and was updated in 2014. It requires federal systems to meet specific security requirements or “controls,” and no agency is exempt.
There are many high-level requirements that applicable enterprises must meet, such as maintaining an inventory of IT systems, utilizing security controls, conducting risk assessments, maintaining a security plan, categorizing systems and data based on risk level and conducting continuous monitoring on systems to detect abnormalities.
Reach Out To An Experienced IT Security Compliance Firm
Modern businesses are responsible for exercising due diligence to protect the confidentiality and availability of key business assets. Working with an experienced IT security compliance firm can help ensure that a business meets all applicable compliance standards and keeps consumer data safe from insider and outsider threats.
A reputable IT security compliance firm will take a holistic approach to an organization’s unique security needs and implement the proper technical, physical and administrative controls to meet these objectives. To learn more about IT security compliance or to speak with an experienced IT security compliance firm, reach out to the professionals at SeaGlass Technology.