Today, regulatory compliance is just as important as cybersecurity itself. Cybersecurity is essentially a system that ensures infrastructure security of software and hardware against potential threats and already existing vulnerabilities.
Security compliance is significant as businesses must adhere to certain regulations and/or industry standards. According to Forbes, SOC 2 attestation and ISO 27001 certification are indicators of data protection protocols to customers, although cybersecurity isn’t indicated by certifications. So, cybersecurity and compliance don’t necessarily have similar concepts yet complete one another.
No matter the size, any company is a potential victim to cyber threats and data breaches. So, it is important to be a security-compliant company and ensure cybersecurity for both avoiding the damage of cyber threats and the consequences of not adhering to regulations. Compliance represents the security, reliability, integrity, and confidentiality of corporations’ systems.
What is cybersecurity compliance?
Cybersecurity compliance is a procedure of risk assessment according to security standards and regulations. Also, it manages to ensure data confidentiality and the way it is done by procedures. It is used for meeting data management and global security requirements.
Safeguard measures and protocols are taken depending on the security management system which complies with the regulations. This is to ensure mitigating potential breaches’ possibility and create procedures before a data breach. Additionally, it provides an action plan to the affected parties, after a data breach occurs.
There are specific security standards and regulatory cybersecurity requirements that businesses must object to. All of these have a common objective which is sensitive data protection by making rules albeit having distinctive techniques. Regulatory requirements can be employed both nationally and internationally while governing stored data and information types. Used standards vary and even overlap within the industry of the business. Some of the significant cybersecurity compliance standards include HIPAA, FISMA, PCI-DDS, GDPR, ISO/IEC 27001. You can read more about their content and cybersecurity compliance.
Why you need cybersecurity compliance
Cyber threats and data breaches can have substantial impacts on companies. In this regard, the protection quality of cybersecurity determines the level of safety of businesses. It is important to have effective security compliance otherwise corporations could still be at risk for potential breaches. Businesses must adhere to certain regulatory requirements and security rules. Cybersecurity compliance not only helps businesses in meeting such regulations but also allows for further security management.
Risk management system
Cybersecurity compliance is essentially a risk management system allowing data protection, the safety of network infrastructure, activity monitoring, and security policies for authorization. Security regulations provide a set of requirements for securely collecting, sharing, storing, and managing sensitive data.
Dealing with many security standards can be challenging. Security compliance regulations can be attained by aligning and supervising standards. Unified cybersecurity standards are a way to ensure safety.
Regulatory penalties avoidance
By non-complying with cybersecurity regulations, corporations could face serious penalties and pay fines. Established cybersecurity practices regarding these regulations provide decreased possibility of a data breach since it includes fundamental requirements for security. If a data breach happens, your company could face huge penalties due to non-compliant security practices.
How to construct a cybersecurity compliance plan
Cybersecurity compliance is seen as a complex concept and can intimidate companies in the first place. However, it is necessary to construct and implement a cybersecurity compliance plan to ensure safety to fix potential and existing vulnerabilities. Complexity issues can be diminished by taking a step-by-step approach.
Cybersecurity compliance of a business can be evaluated by gathering a compliance team. This team can pinpoint any vulnerabilities in the system consisting of software, procedure, personnel, and policies.
After pinpointing vulnerability, the next thing to do is a risk analysis. Distinguishing information and datasets of systems is important to evaluate the degree of risks of each of them. Later, analysis of risks helps to prioritize and classify them. Security measures must be set by controlling various aspects such as data encryption, incident response plan. In accordance, documentation of policies should be updated. Continuous monitoring and testing allow refining the cybersecurity along with reducing potential data breaches and vulnerabilities.
Overall, cybersecurity compliance is a risk management system that incorporates security regulations and standards while securing sensitive data. Businesses must adhere to these cybersecurity compliance regulations since they include basic security requirements. Otherwise, the consequences may greatly affect the business.