Organisations of all shapes and sizes are now frequently the subject of cyberattacks. A successful cyberattack may have catastrophic results. As a result, organisations of all sizes now place a high importance on cybersecurity.
Implementing security measures is one aspect of cybersecurity, though. Additionally, businesses need to make sure they adhere to all applicable laws and requirements. Fines, legal action, and reputational harm could occur from breaking these rules.
The process of ensuring that a company’s cybersecurity measures adhere to all applicable laws and industry standards is known as cybersecurity compliance. This can include security measures like firewalls, antivirus software, access control, and data backup procedures, among others.
Standards and rules for cyber security
The type of data being secured, the industry, and the country/region in which the organisation conducts business all have different compliance obligations. There are many cybersecurity laws and guidelines. Among the most typical are the following:
GDPR stands for General Data Protection Regulation.
The European Union has put into effect the GDPR, a law that aims to safeguard EU individuals’ personal information and right to privacy. Regardless of where the organisation is headquartered, it applies to all organisations that process the personal data of EU persons.
PCI DSS: Payment Card Industry Data Security Standard
The Payment Card Industry Security Standards Council (PCI SSC) is responsible for overseeing this standard. Any business that takes credit card payments is subject to it. The standard establishes requirements for safe data transfer and storage with the intention of reducing credit card fraud and improving data security for cardholders.
HIPAA stands for the Health Insurance Portability and Accountability Act.
Protected health information (PHI) handling is governed by U.S. law known as HIPAA. It applies to healthcare providers, insurers, and other PHI-handling businesses.
27001, ISO/IEC
Information security management systems (ISMS) have a structure thanks to ISO/IEC 27001, an international standard. It provides recommendations for handling and safeguarding sensitive data.
NIST Framework for Cybersecurity
The U.S. National Institute of Standards and Technology produced a set of principles known as the NIST Cybersecurity Framework. It offers a framework for controlling cybersecurity risk, and businesses in the United States frequently employ it.
Compliance with cybersecurity laws is crucial
For a number of reasons, adherence to applicable cybersecurity laws and standards is crucial. First off, it aids businesses in adhering to recommended procedures for protecting sensitive data. Organisations implement procedures, methods, and controls to guarantee operational security and reduce risks. This aids in lowering the possibility of a successful cyberattack.
Next, breaking the law could result in fines and legal consequences. For instance, organisations who do not comply with the GDPR risk fines of up to 4% of their annual global revenue.
Last but not least, businesses with a focus on cybersecurity compliance and strong security measures are frequently viewed as more dependable and trustworthy, offering them an advantage in the market. It shows that a company is devoted to safeguarding sensitive data and takes cybersecurity seriously.
How to comply with cybersecurity regulations
A sequence of actions must be taken to ensure that your company complies with all applicable security laws, guidelines, and best practises in order to achieve cybersecurity compliance.
1) List the laws and guidelines that apply.
Finding the laws and standards that relate to your organisation is the first step. This will rely on elements including the organization’s industry, the kind of data being secured, and the legal system in which it is operating.
2) Perform a risk analysis
The following stage is to carry out a risk assessment after you have determined the appropriate laws and standards. This entails locating potential risks and vulnerabilities in the systems, networks, and procedures of your organisation and evaluating the likelihood and effect of those risks and vulnerabilities. This will assist you in prioritising your efforts and choosing the best security measures to use.
3) Create and put into effect security guidelines, protocols, and controls
Develop and execute security policies and procedures that adhere to the relevant legislation and standards based on the findings of the risk assessment. Implementing firewalls, encryption, frequent security awareness training, and other technical, administrative, and physical security controls should also be part of this.
4) Continue to keep records.
Your cybersecurity programme should have documentation for all of its components, including rules, processes, risk analyses, and incident response plans. To prove compliance to auditors and authorities, appropriate documentation is crucial.
5) Encourage a culture of safety
The cybersecurity defences of an organisation are frequently weakened by its workforce. By raising awareness, offering consistent training, and immersing staff in cybersecurity initiatives, your organisation may foster a security-conscious culture.
6) Keep track of and update security precautions
Threats to cybersecurity are always changing. Maintain steady compliance by continuously monitoring your organization’s cybersecurity posture and carrying out routine audits. This could entail performing routine security audits, performing pen testing, repairing software flaws, updating software, etc.
Professional advice on cybersecurity compliance
Proper compliance can be difficult because it takes specialised knowledge and resources to create and maintain efficient cybersecurity measures. It can be challenging to interpret regulations and standards because they are sometimes long, especially for organisations without specialised personnel. Many organisations can lack the funding necessary to recruit infosec and legal specialists or to buy cutting-edge security equipment. In addition, the field of cybersecurity is continually developing, which, regrettably, results in the constant emergence of new risks. You can use a number of practical strategies to get beyond the obstacles:
Use a risk-based strategy: Finding your organization’s most important vulnerabilities and threats is a step in a risk-based strategy. Concentrate your limited efforts on tackling the issues with the highest level of importance first to ensure the greatest impact on your security posture.
Utilise services from external parties: Budgetary restrictions and a lack of experience are regular problems for small and medium-sized organisations. A good approach would be to use third-party services, such managed security service providers (MSSPs).
Utilise open-source assets: There are several open-source and free cybersecurity technologies available, including encryption software, vulnerability scanners, and security frameworks. Without making a big financial commitment, you can improve your security posture with the aid of these.
Cloud-based services should be used: Consider employing subscription-based pricing structures for cloud-based security solutions, which can be less expensive than conventional on-premises security systems.
Seek outside assistance Contact regional academic institutions, governmental agencies, or nonprofit organisations that offer aid with cybersecurity. They might provide free or inexpensive advice, materials, or tools to assist you in meeting compliance obligations.
Work together with peers: Join forces with other companies or colleagues in the same sector to exchange insights, experiences, and best practises about compliance.
Final observations transforming the culture to be security-focused
Although essential, adherence to cybersecurity laws and standards does not provide total security. Protecting the resources and reputation of your company requires creating a security culture that goes beyond compliance. A security culture prioritises ongoing development and adaptation to remain ahead of risks, adopts a proactive risk-management strategy, involves staff members at all levels, and promotes flexibility and resilience.
Make sure top leadership champions and supports the need for security in order to create a culture focused on security in your company. To inform personnel of their roles and responsibilities as well as cybersecurity best practises, conduct frequent employee training and awareness programmes. Employees that exhibit a strong dedication to security or who make contributions to improving the organization’s security posture should be rewarded. Promoting a sense of shared accountability and cross-functional teamwork, encourage open discussion about security issues.