We’ve been getting this question a lot over the last few weeks, so we thought it would be a good idea to post a blog about it. As businesses renew their business insurance coverage, they’ve been getting asked more and more questions about their cybersecurity. Let’s talk about why this is, and how your organization can navigate this without losing coverage or having your insurance premiums increase.
Let me ask you something: would you trust a bank that locked its doors for the night but left all its cash in a big pile in the middle of the floor? Probably not—after all, if someone managed to get through the doors, nothing would stop them from helping themselves to the funds inside.
This is effectively how cybersecurity once worked, with the presumption that if someone had access to a network, they had permission to access any data on it. Fortunately, many businesses have made the switch to a better approach, known as zero-trust security.
One of the many tasks undertaken by the United Nations is to protect human rights around the globe while also working to create more sustainable and climate-friendly development. As such, the UN has recently taken a healthy interest in the development of artificial intelligence, hoping to develop guidelines that allow us to get the most value out of AI without creating more significant problems.
You might have noticed that business insurance companies are starting to show an interest in how you are protecting your technology and data. If your org has been in touch with your insurance provider regarding modifying or renewing your business insurance, you were likely handed a lengthy questionnaire about your cybersecurity. Let’s take a look together to help you make informed decisions on how to handle your IT and how to prevent your insurance costs from skyrocketing.
The primary reason for training employees on cybersecurity is to protect the organization from online attacks. But there are many other reasons you should embark on security awareness training. It is also important for customer reassurance, employee wellbeing, and, our topic for this post, cybersecurity compliance and risk reduction.
There are both direct and indirect correlations between cybersecurity training and regulatory compliance. For example, many regulatory agencies explicitly require businesses to conduct regular security policy training or data protection training for all employees. Failure to comply with this requirement would cause fines and other sanctions.
Depending on your industry, and your business location, there are some cybersecurity regulations that you would have to comply with. Some cybersecurity compliance regulations are HIPAA, PCI DSS, SOX, NYDFS, GDPR, NIST, CMMC, and many more. Failure to comply with these requirements would put your system at serious risk. But also, you might have to face steep penalties and hefty sanctions, including legal action.
Inadequately trained employees are more vulnerable to phishing and social engineering attacks. They might even unknowingly violate policies and handle data poorly, which could lead to a range of compliance errors. Proper training can help avoid all this.
Unique cybersecurity training strategies like simulated attacks will boost retention and make employees more alert for looking out for cyber threats. It also ensures compliance with the Cybersecurity Framework developed by the National Institute of Standards and Technology (NIST) and, though not a legal requirement, is one of the best risk management practices.
Data confidentiality and risk mitigation are crucial aspects of data privacy training for meeting compliance demands, especially with encryption, data sharing, and access controls.
Cybersecurity training ensures not only that your organization passes compliance audits but also that it does so with flying colors. When all employees receive security regulation training, there is a higher chance of getting an exemplary audit report.
A good training program comes with participation monitoring and various metrics for evaluating its effectiveness. All this is useful for regulators to check your organization’s compliance with cybersecurity requirements.
The existence of a regular training program shows your staff that you are serious about cybersecurity and encourages everyone to take the best individual steps toward maintaining a high level of protection. It minimizes the risk of insider threat.
Online threats continue to evolve every day, so compliance standards need to adjust as well. Regular training ensures that your entire organization is trained on all the latest advances, always keeping you compliant.
With a solid understanding of the importance of compliance and liability, top executives will be more attentive to enforcing mandates on cybersecurity and data protection.
Often, cybersecurity compliance may seem like just another routine requirement in the workplace, but it has a significant impact on many aspects of the business, as you have just seen.
Has your data been hacked? Download our Infographic, “The Top 10 steps to take if you think you have been hacked.” If you’d like, call us and we can talk about how we can customize data security for your unique needs!
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The United States Federal Trade Commission’s mandate is to prevent fraud and promote consumer protection in today's interconnected world, where the digital landscape continues to evolve at a rapid pace. The FTC recognizes the importance of safeguarding consumer information and has implemented their Safeguards Rule as a means to ensure that businesses protect sensitive data from unauthorized access and misuse. Let’s take a look at the Safeguards Rule and what you need to know about it in regard to your business.
Compliance is a critical element of many businesses’ requirements, with pretty severe penalties as a consequence if the prescribed standards are not met. Even more importantly, most compliance requirements and regulations are put in place for the welfare of not only the business, but its clientele as well. This makes it critical to know which apply to your business, and how to meet them fully.
Every business’ clients trust that they’re taking every measure possible to protect data, like personal information or financial records. However, with the number of businesses using electronic records continuing to climb, along with the rise of cybercrime, many industries have begun to impose regulations and compliances that are designed to keep personal information secure. Health and finance are two of the most heavily regulated industries, with the government having stepped in and set a specific standard of data security regulations that these companies must comply with.
Cloud computing has been touted as one of the most innovative and important technologies for smaller businesses as they look to compete with larger organizations. How it makes this possible is by offering dynamic computing environments that can help bring these smaller businesses into the information age without saddling them with massive infrastructure costs while doing so. That’s not to say that the cloud is cheap by any means, and this month we will discuss how cloud computing is a great option for nearly any business.
In running a business, there are a lot of important matters that need to be taken care of. Even if they are not really in line with the core competencies of the business. One such matter is IT compliance. In the last few weeks, we have been talking about compliance and how it is important to your business.
Before your company can fully comply with all the requirements set by third parties like regulatory bodies and clients, there are dozens upon dozens of tasks that need to be completed. These tasks are spread across different areas of the company and are impossible for just one individual to accomplish. The process of achieving compliance would require a fast and thorough team of compliance specialists.
Regardless of your industry, there are going to be certain regulatory standards that you will be responsible for upholding. Many of these standards will be related in some way to your cybersecurity. Let’s talk about some of these cybersecurity standards, and why compliance is so critical for your business.
Considering what today’s cyberthreat environment looks like, more and more rigorous cybersecurity is strictly needed. One means that businesses have to accomplish this is a cybersecurity practice known as a zero-trust model.
Let’s go over what zero-trust entails, and how to put it in place.
Some industries require more compliance than others, as they deal with sensitive data on a regular basis. In efforts to protect this data, governments and agencies have implemented laws, regulations, and other requirements to ensure businesses remain compliant with this expectation.
The cloud is a great opportunity for businesses to increase accessibility of data and enhance productivity, especially while remote, but for those who do not know how to approach it, the cloud can be intimidating. Today, we are going to make the case for a private cloud solution and why you should consider it as a viable option for your business, even if it does not seem like it at the moment. You might be surprised by what you learn!
There are now five bipartisan bills being considered in the United States House of Representatives, strictly intended to help put some checks on the power that today’s modern technology giants have. Let’s consider what these bills are, and why the current business environment has inspired them.
According to a survey conducted by Splunk and Enterprise Strategy Group, more business leaders intend to funnel funding into their cybersecurity—88 percent of respondents reporting a planned increase into their investments, 35 percent reporting that these boosts will be substantial. Let’s examine a few of the insights that this survey has revealed.
HIPAA—the Health Insurance Portability and Accountability Act—is a serious concern for all healthcare providers that operate within the United States, and for good reason! Since August 1996, HIPAA has mandated that these healthcare providers comply with various best practices. While HIPAA is relatively familiar to many people for assorted reasons, fewer know about HITRUST (the Health Information Trust Alliance) and how these acronyms ultimately cooperate with one another.
Most businesses have compliance regulations they need to meet. 2021 is becoming somewhat of a tipping point for some. Companies are dealing with the development of new data privacy laws that will surely add some responsibilities on top of already established regulations. This month, we thought we’d take a look at compliance and why it is important to stay on top of it.
Nowadays, every business accepts payment cards. To protect people’s personal and financial information when conducting transactions using credit, debit, and gift cards, the companies that stand to lose the most if these transactions are compromised: Visa, Mastercard, Discover, and American Express, have implemented industry-wide compliance regulations. This regulation is called PCI DSS, short for Payment Card Index Digital Security Standard. Let’s take a brief look at this regulation.
CoreTech has been serving the Kentucky area since 2006, providing IT Support such as technical helpdesk support, computer support and consulting to small and medium-sized businesses. Our experience has allowed us to build and develop the infrastructure needed to keep our prices affordable and our clients up and running.
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