Security compliance: How to Maintain Business Safety and Comply with Regulations

In the last quarter of 2021, the number of attempted cyberattacks rose to 925 per week per company, an all-time high. This is a 50 percent increase compared to 2020.

Anything a corporation does to protect its assets and comply with security standards and laws is considered security compliance.

In this post, we discuss security and compliance. We then review how these two initiatives work together to develop a strong security plan.

What exactly is computer security?

Actions taken to protect a company’s customers and assets are called information technology (IT) security. Safety and self-preservation are primary concerns, not compliance with legal or contractual obligations to a third party.

IT security programs strive to:

• Prevent attacks on your organization’s data, physical assets and digital infrastructure;

• Respond quickly to security incidents to minimize the damage caused.

The key is to remember that security is an ongoing effort.

While security measures are constantly improving, hackers are also getting more skilled. A commitment to security requires regular monitoring and updating.

Before we go any further, let’s define how IT security relates to words that are often used synonymously.

Computer security versus cybersecurity

IT security, in its broadest sense, refers to the measures used to protect an enterprise’s electronic systems and network endpoints, especially mobile devices and laptop computers, and the information they contain. All digital and physical security issues such as malicious cyber-attacks, inappropriate system configurations, faulty hardware, and insecure server regions are covered by IT security. In addition, it includes features such as risk management, security education, and continuous monitoring that help protect information systems and data from illegal access.

IT security includes cyber security as a subset. It refers exclusively to the measures used to protect computer networks, applications and the information they contain against digital attacks.

IT security versus information security

Computer security also includes information security (InfoSec). Information security (InfoSec) focuses primarily on data protection and privacy, unlike IT security, which also includes protection of systems, networks, physical data centers, cloud services, and others. organization assets. Describes the measures used to protect the privacy, accuracy, and availability of sensitive corporate data in all formats, including print and electronic.

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Your organization’s assets can be protected by implementing appropriate IT security procedures, such as cybersecurity practices and InfoSec, but this is only one element of a holistic security plan. Let’s examine the second part in more detail below.

What exactly is IT compliance?

Information technology (IT) compliance describes security measures that a company implements to appease a third party, such as the government, the business community, a certification body, or customers.

You will receive penalties if you break the required frameworks and rules. Many organizations put all other priorities on hold to prepare for audits because this often manifests as costly fines.

IT Security vs. IT Compliance

Security is not the same as compliance. Even if a business complies with all applicable laws and industry standards, it may still be at risk of cyberattacks.

There are many differences between security and compliance, but there are several areas where IT compliance and IT security are intertwined and have common goals. We’ll see.

Some of their common characteristics are the following:

  • Both reduce risk: Compliance offers the basic security precautions required by your business or government. The possibility of hacking is further reduced by security awareness, which closes all remaining security vulnerabilities.
  • Both improve reputation: Both buyers and sellers expect companies to protect customer data. Compliance certificates and strong security practices show that your business will take care of its stakeholders when used together.
  • Likewise, apply to third parties: Most security frameworks require compliance from both the company and its vendors. Likewise, security measures are not only implemented to protect the company as a whole. Partners are also protected.

However, IT security and IT compliance are different concepts.

Let’s see some of their main differences:

• Compliance: An external regulator enforces strict compliance with a specific set of rules. An organization often practices security for its own benefit.

• Primary Motivation: Avoiding sanctions is the primary driver of compliance activities. Nobody likes getting a big ticket. To protect valuable company assets, security measures are implemented. Data, finances, and copyrighted material are included.

• Compliance is mostly stagnant in terms of evolution. While framework updates do happen, they don’t happen on a daily basis as new threats materialize. On the other hand, security measures adapt to evolving threats.

How do compliance and security work together?

The main lesson is that compliance and security are opposite sides of the same coin.

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Although compliance is required by a third party, it provides a useful security function by giving an organization a standard to protect against online attacks.

Coding of security procedures can help locate and correct weaknesses in current security measures. Compliance also sends a message to consumers that you are a trusted partner who will protect their data.

Despite this, Compliance often only meets the industry’s minimum security requirements.

You must implement additional security measures if you want to truly trust the security program. Every company must maintain a certain collection of assets and risks. But when creating your own software, there are some proven methods to consider.

Which security compliance frameworks are best for your organization?

The first step in ensuring that your company implements the appropriate security safeguards and controls to effectively protect and benefit your business is to understand the appropriate security framework for your organization. However, due to the deluge of technical language, complex standards, and changing laws of each security framework, understanding them can be difficult. Here are three key security frameworks and a quick overview of each to get you started:

SOC 2

Reports on service organization controls are known as SOC reports. Specifically, the SOC 2 report provides a comprehensive assessment of a company’s security controls, procedures, and operational performance. It is governed by the five principles of trust and allows companies to highlight their superior security measures, fostering loyalty and trust among customers and other companies.

For more information on SOC 2 compliance, download our SOC 2 Bible.

ISO 27001

Security management of vital information is prescribed by the global security standard ISO 27001. A robust Information Security Management System (ISMS) can be created, managed and implemented within an enterprise using the framework.

Download the ISO 27001 Bible here for additional information on ISO 27001

HIPAA

A federal law known as HIPAA requires certain institutions to adhere to rules and regulations related to how they receive, store, and share protected health information (PHI).

Why is security compliance critical?

A company can derive numerous benefits from compliance with security regulations. Let’s examine five of these benefits.

Avoid penalties and fines

No matter where you are or what your business is, you need to find out which compliance rules are relevant to your business.

There are rules you must follow if you collect customer information, including credit card information, website cookies, and personal information.

You can avoid problems by setting up a comprehensive security compliance policy.

security breach prevention

Your information is valuable. Healthcare and banking are two sectors that handle extremely sensitive data and are therefore more exposed.

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Of course, companies in any industry are vulnerable to costly attacks. Investing in risk management for your suppliers is a wise hedge.

Tight compliance and security controls can prevent them from targeting your business.

reputation boost

The damage that a major security breach can cause to a company’s reputation is well known.

When information can travel around the world in moments, security compliance must be taken seriously to keep customers and consumers engaged.

Extensive data management procedures.

In accordance with the GDPR, the ICO can contact your company and request information about the exact location of the user data. If you don’t comply, you could face heavy fines or other serious legal consequences.

This push, however, is more of a “stick” than a “carrot” strategy, promoting excellent data management techniques.

You must keep track of all user data if you want to comply with the law and avoid a fine. This will likely require updated technologies and better data organization techniques.

While it may seem cumbersome at first, improving these procedures will help you streamline your operations. An improved structure of user data can potentially reveal new marketing opportunities.

Positive relationships, both internal and external.

Both employees and external parties are attracted to organizations that are committed to all aspects of security.

There are two significant benefits to going beyond legal compliance and making security a core component of your corporate identity. It says that you value honesty and respect your customers.

This will make it easier for you to form alliances with companies that share your value for security, reducing your risk and generally putting you in good company.

How to adhere to excellent security practices?

The need to comply with safety regulations is obvious, but how do you do it right? Here we discuss nine best practices that can help you improve your IT security performance.

  • Perform an internal security audit
  • Create a cross-departmental compliance strategy.
  • Constantly monitor;
  • Use of audit logs
  • Configure systems with the least functionality and privileges possible
  • Separate tasks from system operations
  • Update all company software periodically.
  • Establish a good risk management strategy.
  • Take advantage of automated and intelligent tools.

Conclusion

Practicing security compliance can be time consuming and demanding without professional help. The implementation of legal frameworks and other protection mechanisms takes a long time. To ensure long-term security, the above initiatives must also be constantly reviewed.

Categories: How to
Source: HIS Education

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