NIST 800-171, CMMC, PCI DSS—if these acronyms and regulations seem overwhelming, you’re not alone. Managing compliance regulations gets complicated quickly, especially when you’re already tasked with running your business. Here is what you need to know about key compliance standards.
What Is IT Compliance?
IT compliance refers to the adherence to legal, regulatory, and industry standards governing the management and protection of IT systems. These regulations, such as HIPAA or GDPR, set standards for data protection, privacy, and security practices.
Compliance regulations often address how data is processed, stored, and safeguarded, with a focus on privacy controls, network security, and other cybersecurity measures to ensure information remains secure and meets established standards.
What’s at Risk If I Don’t Follow Compliance Regulations?
So why are compliance regulations important for your business?
Failure to follow industry or national regulations can result in hefty fines or penalties, but these financial burdens are only the beginning of the consequences of non-compliance. The goal of these regulations is to protect your organization from cyberattacks—by following them, you’re avoiding operational disruptions and huge losses of data, resources, and clientele.
Consumers take their data seriously, and insecure systems or cyber incidents that result from non-compliance are huge red flags for them. One survey found that 75% of customers would stop frequenting a business that experienced a cybersecurity issue. Clients may also take legal action against your company, damaging your reputation and chances for future business.
Common Compliance Regulations You Should Know
You can sidestep these and other negative effects of non-compliance by familiarizing yourself with common standards and learning which ones apply to your company.
HIPAA
The goal of the Health Insurance Portability and Accountability Act (HIPAA) is to protect the personal and medical information of patients, making sure it stays secure and private.
Who it Applies To: Healthcare providers and any businesses handling protected health information (PHI).
Key Requirements: Implement measures to protect PHI, provide employee training on data security, and ensure compliance with privacy rules and breach notification standards.
PCI DSS
The Payment Card Industry Data Security Standard (PCI DSS) outlines compliance regulations for keeping any sort of card information secure, including names, numbers, security codes, and transaction information.
Who it Applies To: Any businesses or service providers that process, store, or transmit card payments.
Key Requirements: Implementation of firewalls, data encryption, antivirus software, and network access controls to protect sensitive information.
ISO
The International Organization for Standardization (ISO) 27001 is an internationally recognized standard. It provides a framework for implementing security controls to protect sensitive information and maintain the confidentiality, integrity, and availability of data.
Who it Applies To: Organizations of any size or industry seeking to establish, implement, maintain, or improve an information security management system (ISMS).
Key Requirements: Conducting risk assessments, establishing information security policies, implementing security controls, continuous monitoring, and regular internal audits to ensure the ISMS remains effective and compliant.
NIST 800-171
The National Institute of Standards and Technology (NIST) establishes guidelines and standards for security, including NIST SP 800-171, which outlines requirements for handling controlled unclassified information (CUI).
Who it Applies To: Businesses, institutions, and contractors handling CUI, including Department of Defense (DoD) contractors and subcontractors.
Key Requirements: Implement strong physical security measures, robust access controls, authentication processes, and conduct regular audits to ensure compliance and safeguard sensitive information.
CMMC 2.0
The Cybersecurity Maturity Model Certification (CMMC) was recently updated to CMMC 2.0, which defines three levels of certification aimed at improving cybersecurity standards and setting clear expectations for companies seeking government contracts.
Who it Applies To: Organizations handling Controlled Unclassified Information (CUI) and businesses contracted by the Department of Defense (DoD).
Key Requirements: Implementing access controls, authentication measures, regular assessments, audits, risk management strategies, and preparing for evolving threats.
SOX
The Sarbanes-Oxley Act (SOX) is a US law designed to prevent fraudulent financial reporting and protect investors by setting compliance requirements for public companies.
Who it Applies To: Public companies, private companies preparing to go public, and accounting firms conducting SOX audits.
Key Requirements: Establishing internal financial controls, conducting frequent audits, and maintaining accurate financial records.
How Do I Stay Compliant?
This checklist provides essential steps to help you meet compliance regulations and protect your business:
- Perform regular audits and risk assessments
- Encrypt data during storage and transfers
- Manage data storage and sharing to maximize protection
- Implement access controls such as zero trust or MFA
- Make incident response and business continuity plans (IRPs and BCPs)
- Train employees on compliance and cybersecurity best practices
Bonus Tip: Choose a Provider that Specializes in IT
This checklist only covers the basics. Your exact compliance practices will depend on what kind of products and services you offer, who you work with, and whether or not you’re seeking government contracts. For specific guidance, you need to work with a company that specializes in IT and compliance.
Regulations are detailed and intense, and they undergo updates regularly. Keeping up with these changes and understanding the intricacies of each regulation requires the time, attention, and expertise you can only find in a firm that is focused on keeping your IT systems compliant.
Simplify Compliance with Run Networks
IT compliance regulations can be a huge headache, but Run Networks makes it seamless. Enjoy expert knowledge, over 15 years of experience, and a team that cares about their work and your success when you let us take care of your compliance.
You deserve the best compliance services around, and you’ll find them when you start a conversation with Run Networks.
