As companies become dependent on technology, they are more susceptible to cybercrimes such as ransomware attacks, phishing scams, email fraud, and website spoofing. According to studies, a staggering 36 billion records were exposed in 2020. Industry leaders are aware that it is critical to have strict guidelines and frameworks for sharing, storing, and receiving information. Even if any regulatory standard does not bind your business, it is crucial to know what information security compliance is and its importance. In this article at IT Chronicles, William Goddard explains how to achieve security compliance and maintain it.
Why is Information Security Important?
Whenever a business obtains sensitive information, such as customers’ social security numbers or credit card numbers, it accepts the responsibility of handling the data. Organizations must take necessary precautions to protect customer information and guard it against internal and external threats.
Take a look at some of the top reasons why security compliance is significant:
Builds Business Reputation: Just one data breach can damage a company’s reputation. In fact, many small businesses cannot recover from such attacks. Therefore, making security compliance a top priority enables companies to protect themselves from digital threats and maintain a healthy relationship with customers and stakeholders.Boosts Company Culture: Adopting cutting-edge security compliance measures helps organizations construct a solid internal corporate culture and external identity. Taking proactive steps to maintain security enables businesses to gain employee loyalty.Enhances Data Management Capabilities: Compliance standards and requirements force organizations to find better ways to process and manage their data. Implementing new organizational systems to make data more searchable adds value and helps companies find new marketing opportunities.
What Are the Legal Requirements?
“The specific information security laws and practices you must comply with will depend on which countries you operate in and your industry sector,” explains Goddard. However, most legal requirements are concerned with protecting data, human rights, and organizational governance. Failing to comply with legal requirements can lead to the shutting down of your company.
To read the original article, click on https://itchronicles.com/information-security/the-importance-of-information-security-compliance/.
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