Regardless of the size of your company, it’s important to have a security plan that ensures the protection of all information.
Many companies believe that it’s up to the IT department to make sure information is protected. But how do you know if the means of protection is up-to-date and compliant with current standards?
All companies must adhere to security regulations when it comes to data retention and deletion. But regulations change as a means for improving information security, and non-compliance can result in a breach of security and severe fines. In addition, not all laws apply to every company.
Here are three ways to know if your information security compliance is up to date:
1. Determine Which Regulations Apply to Your Company
Knowing which regulations, laws, and acts apply and which ones don’t can be difficult. Here are some laws and acts that are applicable to many organizations:
- Health Insurance Portability and Accountability Act (HIPPA)–This applies to any company that deals with any kind of healthcare
- Sarbanes Oxley Act–This applies to companies that maintain financial records
- Payment Card Industry Data Security Standard (PCI-DSS)–All companies that handle credit cards must comply
- Federal Information Security Management Act (FISMA)–All federal agencies must comply with this
- Gramm Leach Bliley Act (GLBA)–Any company that offers financial products must adhere to this
- Family Educational Rights and Privacy Act (FERPA)–This applies to all secondary institutions
Laws change, so it’s important to review these laws every year.
2. Interpret the Requirements of the Regulations
Interpreting the requirements of regulations can be complex. Often regulations are written in a way that’s difficult to understand. Knowing how HIPPA information should be handled is essential for patient confidentiality. The Sarbanes Oxley Act pertains to most companies, but maintaining compliance can be complex.
Sometimes hiring a security professional is needed to help sift through the language and suggest how to best comply with regulations.
If the requirements are given in general terms, which is often the case, then they can be implemented based on the needs of the company.
3. Assess Your Cybersecurity
Once the requirements are adhered to, then it’s time to evaluate your company’s security and privacy against standards and best practices.
You can determine if there are any leaks and possible breaches of information that could potentially affect information security compliance. Protecting data privacy while adhering to relevant standards is key.
Then you need to organize information security to address the boundaries put in place by the acts. This requires a set plan that outlines a consistent and effective way of alerting and dealing with threats.
Most companies may have to comply with several regulations at once. The best way to approach this is to layout all the regulation that impact the company and then determine which security controls to implement for each regulation.
Taking the time to do this can save your company money and prevent the need to put out fires later on. It can also help you determine if you have multiple security procedures that do the same thing.
What you want instead is to streamline these functions while making sure you’re information security compliance is relevant.
Information Security Compliance
Being vigilant about maintaining information security compliance is essential for your company and its clients. Without it, you run the risk of heavy fines or worse.
Running periodic checks might seem tedious, but in the long run, it pays off.
For more information about regulation compliance, check out our blog.