Companies in the health-care industry, or companies that host sensitive data, are required by law to invest heavily in regulatory compliance or risk enormous fines and penalties. Yet many businesses that keep their customer information such as government suppliers, retail, hotels, restaurants, medical practices, and dental offices still do NOT have the compliance solutions they need in place, inviting cyberattackers to their systems that could result in breaches and huge government fines.
Bizconnectors Compliance as a Service (CaaS) designed to assist organizations in achieving compliance through on-going audits of your organization according to numerous legislative, regulatory and industry body compliance frameworks. Bizconnectors actively delivers compliance services in retail, hospitality, law, insurance, construction, energy, healthcare, manufacturing, and finance that proactively delivers both consulting and baseline and on-going auditing services to ensure that all requirements are being met.
Did You Know That Costs Of A Data Breach In 2018 Were $408 Per Record?
Bizconnectors provides guidance around Personally Identifiable Information (PII) and provides consulting services tailored to meet the objectives defined by regulatory compliance. Other specific requirements are related to the security framework that is defined for the individual industries. For instance, in the healthcare industry, there is a Privacy Rule that requires standards for when Protected Health Information (PHI) may be used and disclosed. HIPAA is a federal requirement for all organizations that come in contact with Health Information (PHI). Or in Security Rule that requires safeguards to ensure only those who should have access to electronically Protected Health Information (ePHI) will have access.
Nearly 11 million businesses in the US have merchant accounts and accept credit cards that are subject to PCI Data Security Standards.
There more new compliances that are formed all the time such as the California Consumer Privacy Act (CCPA) that goes into effect on January 1, 2020. CCPA dramatically increases the types of data organizations must secure that not only includes historically sensitive data such as financial accounts, social security numbers, credit cards but also any personally identifiable data such as web browsing history!
Regardless of the compliance type whether it is HIPAA (Health Insurance Portability and Accountability Act), NIST (National Institute of Standards and Technology), PCI DSS (Payment Card Industry Data Security Standard), GDPR (General Data Protection Regulation) or other regulatory compliance, there are basic Safeguards requirements that must be in place that includes:
- Email protection
- Endpoint protection
- Access management
- Data protection and loss prevention
- Asset management
- Network management
- Vulnerability management
- Incident response
- Cybersecurity policies
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