Managing Cybersecurity Risks and Compliance Regulations
Managing cybersecurity risks has become more challenging as cybercriminals find new ways to access organizations’ systems, data and personal information. To protect consumers, several industries have set strict IT compliance regulations that businesses must adhere to.
Meeting these compliance regulations requires a proactive approach to cybersecurity. Cybersecurity as a service has also emerged as a hot topic for organizations operating in highly regulated environments.
Below are a few IT compliance regulations that directly impact cybersecurity. We also share our best practices for boosting cybersecurity standards and protecting your business, regardless of the industry in which you operate.
Cybersecurity Compliance Regulations
Health Insurance Portability and Accountability (HIPAA). HIPAA is an important security rule for healthcare providers that was established to protect sensitive patient information. HIPAA regulations focus on privacy practices and address vulnerabilities in the electronic transfer of heath information. Compliance with HIPAA is meant to prevent:
- Data leaks
- Data breaches
- The improper use of information by company employees
Financial Industry Regulatory Authority (FINRA). Congress established FINRA to protect investors in today’s rapidly evolving investment market. It offers guidance on a wide range of topics, including cybersecurity and a firm’s ability to protect sensitive personal data. More specifically, FINRA evaluates a firm’s approach to managing cybersecurity risks through reviews of controls in the following areas:
- Technology governance
- Risk assessment
- Technical controls
- Access management
- Incident response
- Vendor management
- Data loss prevention
- System change management
- Branch controls
- Staff training
The Cybersecurity Maturity Model Certification (CMMC). CMMC is designed to protect sensitive unclassified information that is shared by the Department of Defense with its contractors and subcontractors. This includes:
- Managing cybersecurity risks to meet evolving threats
- Perpetuating a collaborative culture of cybersecurity
- Safeguarding sensitive information to protect the warfighter
Managing cybersecurity risks with these best practices
For organizations operating in healthcare, finance, government contracting and other highly regulated industries like the legal field, boosting cybersecurity standards to manage cybersecurity risks is important. Many managed IT service providers have begun offering cybersecurity as a service to meet the growing demand for cybersecurity services in Tampa.
At Atlas, we recommend all our clients take a multi-layered approach to cybersecurity to better protect from cyberattacks. These best practices include:
- Endpoint detection and response (EDR)
- Advanced threat detection (ATD)
- Advanced threat prevention (ATP)
- Virtual private networks (VPN)
- Multi-factor authentication (MFA)
- Email spam filtering
- Firewalls
For organizations in highly regulated industries, we also recommend advanced cybersecurity monitoring with Arctic Wolf. Arctic Wolf offers businesses managed security awareness through its Managed Detection and Response (MDR) and Cloud Detection and Response solutions. These solutions continually monitor networks, endpoints and cloud environments. They help organizations detect, respond to and recover from cyberattacks.
Arctic Wolf is the future of cyber protection and our recommendation for best managing cybersecurity risks.
Cybersecurity as a service
If you are a startup in one of the industries mentioned above, or an existing organization concerned about IT compliance, work with an MSP that offers cybersecurity as a service. A top MSP will work with your team to conduct a thorough review of your IT practices and determine areas of vulnerability and non-compliance.
From there, you can establish a checklist to better manage cybersecurity risk and comply with all cybersecurity regulations in your field.
Interested in learning more about cybersecurity as a service? Contact us today to learn how to boost cybersecurity standards to protect your business from attack and meet compliance regulations.
