How Beneficial Are Compliance Programs to Your Company?

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The increasing levels of cyber threats have encouraged organizations worldwide to establish stringent security compliance programs to ensure the privacy and confidentiality of customers’ data. Though keeping up with the latest compliance regulations and rules can be extensive and resource-intensive, companies must acknowledge that compliance significantly benefits the business. This Help Net Security article discusses why organizations must adopt a more streamlined approach to compliance requirements.

Why Should You Establish Compliance Programs?

Data breaches will undoubtedly have far-reaching implications for your organization. In this digital transformative world, an effective way to improve your organization’s cyber resilience is by establishing cybersecurity compliance programs. Compliance measures help you reduce security incidents associated with human factors.

Benefits of Compliance Programs

Better Security Controls: Cyber threats will likely become more prevalent in days to come. “The best way to brace for — and mitigate — the impact of a ransomware attack is to have a comprehensive plan in place,” says the author.Attract New Business Opportunities: Security compliance measures help establish your organization as a trustworthy partner and prominent industry leader. Often companies lose business deals due to incomplete compliance certifications.Avoid Penalties: Adherence to compliance measures helps you avoid penalties and fines. Governments worldwide are imposing data protection laws to maintain consumer data privacy. Any violation of these laws would result in heavy penalties.

Challenges of Compliance Management

One of the significant compliance management challenges is that there is no “one-size-fits-all” approach. This is because organizations face differences in data protection laws, including jurisdiction, industry specification, and affected parties. Furthermore, irrespective of the industry in which you operate, you must comply with various standards. For example, healthcare organizations must comply with the Health Insurance Portability and Accountability Act (HIPAA). In addition, if the same organizations accept payments through point-of-service devices, they must also meet the Payment Card Industry Data Security Standard (PCI DSS) requirements.

To read the original article, click on  https://www.helpnetsecurity.com/2022/05/23/ransomware-compliance/.

The post How Beneficial Are Compliance Programs to Your Company? appeared first on AITS CAI’s Accelerating IT Success.

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