In today’s interconnected world, an organization dedicated to fraud protection like the United States Federal Trade Commission is vital, especially when you consider how advanced digital technology has become and continues to grow. The FTC works to ensure consumer data stays protected by the businesses to which they entrust it. Let’s look at the Safeguards Rule and what your business should know about it.
You might think that adding additional security measures can only benefit your business, and this is true in most circumstances, save one: security exhaustion. If you don’t make it easy for your employees to adhere to your security policies, then you could inadvertently be making them perform slower than usual and your solutions could be getting in the way of their work.
To meet compliance requirements for technology an organization will need to understand the regulations they operate under. New entrepreneurs may find it startling when they realize that they have a lot more people/organizations to answer to than they thought. This week, we aren’t going to go through individual regulations, but how IT generally fits into compliance and how not staying up to date can cost your business dearly.
Regulations and compliance standards are in place for effectively every industry to uphold, many of which address cybersecurity in some way or another. Let’s talk for a moment about why compliance to these standards is of the utmost importance for your organization.
Despite what detractors say, regulations are in place for good reason. They typically protect individuals from organizational malfeasance. Many of these regulations are actual laws passed by a governing body and cover the entire spectrum of the issue, not just the data involved. The ones that have data protection regulations written into them mostly deal with the handling and protection of sensitive information. For organizations that work in industries covered by these regulations there are very visible costs that go into compliance. Today, we look at the costs incurred by these organizations as a result of these regulations, and how to ascertain how they affect your business.
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