Business Leader Primer On Cybersecurity Compliance

A wise leader has the capacity to synthesize challenges, concepts, and solutions for their business. Empowered, she develops a sense of urgency with her team and directs them to action.

The security of your digital assets is this kind of challenge. Getting your mind around security begins with understanding Cybersecurity Compliance. This helps you appreciate what’s at stake and lets you make the topic a priority for your business.

What is Cybersecurity Compliance?

At a glance, it’s a lot of acronyms, historical precedents, pitfalls, and penalties. Compliance focuses on understanding your digital footprint, assessing risk, planning, and executing a plan to mitigate that risk. At the heart of it, cybersecurity compliance is about the safety of your workforce and the privacy of your customer. And it’s about growth and success. When your company boasts compliance you’ve raised the bar against your competition.

Compliant To Who?

There are laws, frameworks, and penalties in place – plenty of them, and not all of them apply to you! Remember, compliance doesn’t excuse liability. Prepared businesses still get hacked – but they are prepared. When cybersecurity is understood, when best practices are in place, when a business is compliant with laws and frameworks, then issues are dealt with swiftly and professionally. Being compliant puts you on the same side as your customers, your employees, and the law.

HIPPA – Health Insurance Portability and Accountability Act

HIPPA ensures the confidentiality, integrity, and availability of Personal Health Information (PHI). HIPAA applies to healthcare providers, health clearinghouses, healthcare plans, and business associates handling personal health information.

GDPR – General Data Protection Regulation

The GDPR is a regulatory law focused on data protection and privacy in the European Union and the European Economic Area (EEA). The GDPR addresses the transfer of personal data outside the EU and EEA areas, having global implications (which applies to all of us).

FINRA – Financial Industry Regulatory Authority

This authority regulates fair financial markets. To protect investors and ensure the market’s integrity, FINRA is a government-authorized not-for-profit organization that oversees U.S. broker-dealers.

NIST – National Institute of Standards and Technology

NIST offers a Quick Start Guide/Framework that provides direction and guidance to improve cybersecurity risk management. It’s not a one-size-fits-all approach, but the framework helps to reduce and manage these risks.