As cyber incidents continue to rise, expectations to maintain standards for privacy are increasing. Whether it’s HIPAA, NAIC 668, GDPR, CCPA, CIS 20 or another standard for regulation compliance, the goal is to protect the customer or client’s data as a requirement of doing business. Governing entities want businesses to make it more difficult for cyber criminals to steal valuable data. If you look at the core of these various regulation compliance standards you’ll find they all begin by requiring a risk assessment and then move towards a more holistic approach to cyber risk management.
What Does Holistic Approach Mean for Regulation Compliance?
The most common view of cybersecurity is to protect hardware and software solutions. While this is an important element, it is not enough. Over 65% of breaches are caused by human error which means cybersecurity training needs to be included in a solution.
- Do you have separate public and private networks for employees and clients?
- Are there policies and procedures in place about security and encryption of valuable data if/when it is removed from your office?
Creating a culture of compliance starts at the top, with the leadership setting the example for behaviors and expectations on data security.
What’s the Value of Your Data?
One of the first steps in a cybersecurity program or plan is to identify all valuable data and where it is stored and transmitted. Many don’t know that personal health information (PHI) is more valuable that a credit card on the dark web. The next part of this is to identify where the valuable data resides. For example, if a worker exported billing data to a local workstation, either on a local desktop or flash drive, it is just waiting to be stolen by criminals. To see more values of data, visit this report by Experian.
Why Does Regulation Compliance Start with an Assessment?
Most business owners or managers of smaller companies don’t understand the value of a full security risk assessment, which is required by most of these regulation compliance standards. Simply put, a risk assessment provides you with a list of issues that need to be addressed. By prioritizing this list, you create a risk management plan to prioritize the issues and improve the protection of your valuable data. As you work through and correct issues you change the culture of your work environment to be more aware of protecting the data and creating a culture of resilience. Over time the policies and procedures become standard operating procedures for your business. You simply operate more securely, greatly reducing your likelihood of a breach.
How is CyberCompass Different?
Because regulations are created by state, industry and federal entities, it is likely for a company to fall under more than one. Each has specific expectations for compliance that must be submitted for approval. This might seem like an overwhelming task, but not with CyberCompass. We can combine all requirements into a single assessment, saving you time and money. Answer one set of questions, but have the body of evidence for multiple governing entities.
Are you ready to begin protecting your valuable data and creating your own culture of resilience? Start with our 2 minute Cyber Quick Check to see your current level of vulnerability.
CyberCompass Surveyor components identify and prioritize risks through a variety of vulnerability scans, testing and standards based assessments.
CyberCompass Calibrator components focus on remediating, reducing and managing risks with guidance from our team of experts.
Rapid changes to the work environment has left businesses vulnerable. Our Remote Workforce Security program allows you to assess and increase the security of your remote employees.