Compliance vs Security: What’s More Important In Your Business?

SOC

Introduction: –

Compliance and security are two of the most important aspects of any business. However, the question of which is more important is a difficult one to answer. Compliance is necessary to ensure that your business is following all the regulations governing it, while security protects your company from potential outside threats. While your business must have both compliance and security measures in place, you may have to prioritize one over the other depending on your specific situation.

 

Compliance: –

Compliance is key when it comes to data security. By following the guidelines set forth by organizations like ISO and NIST, as well as complying with federal laws like SOX and HIPAA, businesses can protect their customers and their data.

Soc compliance: – The Sarbanes-Oxley Act was a federal act that was passed by Congress in 2002 to prevent corporate fraud. SOX compliance is overseen by the Security and Exchange Commission (SEC) and includes a variety of rules and regulations for financial reporting, record keeping, and accountability. The cybersecurity dimension of SOX includes regulatory standards for record-keeping, the implementation of strong internal controls to prevent fraud, and IT infrastructure regarding financial data.

Hippa compliance: – The Health Insurance Portability and Accountability Act, passed by the Department of Health and Human Services Office for Civil Rights in 1996, protects citizens’ individually identifiable health information. HIPAA contains three overarching “rules”: the Privacy Rule, the Security Rule, and the Breach Notification Rule. These regulatory standards ensure that healthcare organizations and their business associates know how to handle patients’ sensitive data. PHI is formally defined as protected health information under HIPAA.

ISO Compliance: – The ISO is a Geneva-based NGO that publishes well-known standards. These standards are known for consolidating best practices into easy-to-understand frameworks. The ISO has released around 22,000 standards, including ISO 27001, their standard for developing information security management systems (ISMS). ISO 27001 outlines specific strategies and checklists for creating strong security measures across an organization.

Read our latest blog for HITRUST 

 

Security: –

Security is the term used to describe the systems and controls in place to protect your company’s assets. Security tools are in place to prevent unauthorized individuals from accessing your company data, whether through a cyber-attack, leak, or breach. Security practices also provide a protocol for how to handle a security incident in the worst-case scenario. Here are some common categories for security tools:

IT Infrastructure: – There is no question that compliance is critically important for businesses. But often, security is prioritized over compliance, putting the business at risk. To make the best decisions for your business, it is important to understand the difference between compliance and security, and the risks and benefits of each.

Network Access: – It can be difficult to find the perfect balance between compliance and security, but with the help of identity access management tools, your business can stay safe and compliant. IAM tools can help to secure your network by regulating access and providing tight security protocols.

Authentication: If you’re a business, you know that compliance and security are two of the most important things you need to focus on. But what’s more important: compliance or security? It’s a tough question to answer, but with 2FA and MFA, you can have the best of both worlds. These tools offer an extra layer of protection that make sure your data is safe and compliant.

User Training: – Users are the cause of most information security incidents. Security professionals know that human error can be prevented through proper training. Employees need to be trained to identify and report phishing attacks, as well as understand how to create and implement a strong password. User education is an important part of any security program. Luckily, security educators are developing engaging and interesting training programs to help users get more invested in security and see it as a necessary part of their work.

 

The Importance of Both Compliance and Security: –

There are two important aspects of security and compliance that are interconnected: security and compliance. Security is the systems and controls put in place by a company to protect its assets, while compliance is meeting the standards that a third party has set forth as best practices or legal requirements. However, they are different in a few ways. For example, security is more preventative, while compliance is reactive in nature.

There are several standards and laws that businesses must adhere to to ensure the security of their data. These measures may be automatic for some companies, but compliance offers strategies to bring your business into alignment with best practices and the law. By complying with industry standards and regulations, you can protect your company from potential fines and penalties. Security and compliance are both important risk management tools. They help to protect your organization from potential harm by ensuring that your systems are secure and following regulations. You can use a third-party resource or standard protocol for security, or you can create a patching strategy for vulnerabilities. Either way, security, and compliance are essential components of risk management.

Ideally, a business’ security measures and compliance needs will be in alignment, but that is not always the case. Sometimes, security measures have been implemented, but not all of the boxes have been checked for compliance needs. For example, you may have invested in antimalware, but you haven’t trained your employees in NIST password guidelines and best practices. You may have satisfied one compliance framework, but if your organization is lacking cohesiveness, you could be at risk. Say, for example, you’ve implemented the PCI DSS security standard, which requires multi-factor authentication for accessing card payment data. However, you haven’t used those same authentication tools for other parts of your business. Organizations that lack a clear authentication tool for accessing cloud computing resources are still PCI DSS compliant. However, they may have security gaps in other areas. A comprehensive security assessment is necessary to identify these needs and ensure that compliance and security are aligned. Good governance across all aspects of the business is key to achieving this goal.

 

How Does Compliance Influence Security?

Security measures protect your company’s assets and stop unauthorized individuals from accessing sensitive data. However, security teams also need to comply with the compliance needs of their organization. Many standards and frameworks help improve cybersecurity, deter fraud, and protect user data. Compliance measures can help your organization become more secure. They provide a set of clear frameworks, checklists, and best practices that reduce risk across an industry. ISO 27001 is a comprehensive compliance framework that outlines all of the components of a strong information security management system (ISMS). Organizations can use ISO 27001 as a blueprint for designing their security strategy, rather than using it as a secondary process.

If you are a health care professional read about HIPAA.

 

Conclusion: –

Compliance and security are both important aspects of any business. However, the question of which is more important is a difficult one to answer. Compliance is necessary to ensure that your business is following all the regulations governing it, while security protects your company from potential outside threats. While your business must have both compliance and security measures in place, you may have to prioritize one over the other depending on your specific situation.