The Role of Compliance in Cybersecurity

Regulatory compliance plays an important role in strengthening an organization's security against cyberattacks.

Compliance with cybersecurity laws and standards is not just about minimizing liabilities or checking a box. These rules and guidelines are a result of decades of research in cyber incidents to deliver a well-rounded response to combat digital dangers.

In this blog, we'll examine the role of compliance in cybersecurity and explain how it may help safeguard your organization.

How Compliance Strengthens Cybersecurity

Here are some of the benefits of compliance:

Encourages trust and reputation

Maintaining compliance indicates that you take security seriously. Customers, partners, and investors are all aware that their data is in good hands. This cultivates trust and establishes a solid reputation in your industry.

Improves security posture

Compliance frameworks guide businesses in developing more robust security practices. For example, many of these frameworks demand periodic data audits, access controls, and vulnerability assessments. By aligning your business with these requirements, you gain a strong security posture. Our Virtual Chief Security Officer program helps you maintain compliance across all frameworks.

Reduces loss

Contrary to popular opinion, compliance is a necessary investment with a positive ROI. Non-compliance exposes an organization to high penalties. It can also harm the reputation of the business and bring projects to a halt.

According to Statista, the average cost of a cyberattack is $4.88 million. Compliance enables you to prevent costly data breaches and fines.

Increases control

Compliance procedures enable businesses to improve access control, ensuring that only authorized persons may access sensitive information, greatly limiting the danger of insider threats.

Compliance for Different Industries

Let's look at some compliance standards across several industries:

Compliance in Healthcare

The healthcare sector manages a lot of sensitive patient data, making it a popular target for threat actors. Breaches can expose personal health information (PHI), leading to severe consequences for both patients and healthcare providers.

Healthcare compliances:

HIPAA: Established in the United States, HIPAA (Health Insurance Portability and Accountability Act) specifies national rules for safeguarding electronic protected health information.
GDPR and the DPA Act: In the European Union, the General Data Protection Regulation and the Data Protection Act provide extensive privacy and data security regulations.

These standards ensure that patient data is secure, encrypted, and handled with care.

Compliance in Finance

Financial institutions manage huge quantities of financial information, including credit card details and personal identities. Any failure to secure this data could lead to identity theft, embezzlement, and financial loss.

Financial compliances:

PCI-DSS: PCI-DSS (Payment Card Industry Data Security Standard) is a worldwide standard that regulates the secure processing of credit card information.
APPI: Japan's APPI Act (Act on the Protection of Personal Information) requires firms to develop security measures and prevent personal data abuse.
PSD2: The Payment Services Directive in the European Union requires powerful security measures such as multi-factor authentication.

These frameworks protect the financial data of customers and ensure smooth operations.

Compliance in Defense

Due to the sensitive nature of defense information, this sector demands robust security measures. To secure mission-critical infrastructure and sensitive information, governments impose severe compliance procedures.

Defense compliances:

CMMC: The CMMC (Cybersecurity Maturity Model Certification) framework in the United States is a tiered cybersecurity standard that establishes a single standard for implementing cybersecurity across the Defense Industrial Base. It sets the bar for defense sector members to meet varying levels of cybersecurity maturity across five levels based on the sensitivity of the information they handle. Learn more about our CMMC compliance readiness services.
DISP: In Australia, the DISP (Defence Industry Security Program) ensures that contractors and supply chain partners follow stringent security measures.

These regulations establish a solid security foundation to safeguard national security interests.

Partner with Experts

Struggling to stay compliant and secure? Compliance may feel like an insurmountable challenge for many small and medium-sized organizations but it doesn't have to be.

According to the IBM report on Cost of Data Breach 2024, businesses with high levels of security compliance preparedness saved an average of $1.68 million more than organizations with low or no compliance preparedness.

That's where we come in. With our expertise, we can help you understand the legal requirements relevant to your industry and construct a customized cybersecurity plan that keeps you safe and compliant.

Sources: