Compliance
Making governance, risk and compliance easy for you're organization
With Compliance offering, you can easily determine the IT security standards that your organization needs to follow to comply with any regulatory or industry framework, and to minimize the risk of a data breach. This solution is critical to help you protect your data and reputation.
Growing List of Compliance Regulations:
It's the law – Not Optional
Regulatory agencies around the world are putting pressure on businesses to
establish a more proactive approach to compliance regarding data privacy and cybersecurity best practices.
By ignoring or neglecting these legal mandates, you open your business up to the increased
risk of an audit, hefty violation penalties, potential litigation and severe reputation damage,
which could lead to a loss of trust and ultimately a loss of customer.
Evolving Cyber threats
Compliance and cybersecurity are equally crucial systems to all businesses. While both include several core components, which may align or overlap, neither system individually completely fulfills or eliminates the necessity for the other.
risk of an audit, hefty violation penalties, potential litigation and severe reputation damage, which could lead to a loss of trust and ultimately a loss of customer.
$6T
projected damage related to cybercrime annually by 2021
95%
of all medical and healthcare institutions have been victims of some form of cyberattack
43%
of breaches in 2019 involved small business victims
Pitfalls of
Non-Compliance
REGULATORY PENALTIES
EXPENSIVE LAWSUITS
PR FALLOUT
LOSS OF PUBLIC CONFIDENCE
LOSS OF SHAREHOLDER VALUE
INCREASED GOVERNMENT OVERSIGHT
DIFFICULTY RAISING CAPITAL
POSSIBLE LICENSE SUSPENSION
RISK ASSESSMENTS
Compliance risk is the risk of facing legal or regulatory sanctions, financial loss, damage to reputation or worse – a security breach courtesy non-compliance. Building a comprehensive framework for regular assessment of compliance risk is mandated by nearly all regulatory standards.
Technical Safeguards
ACCESS & AUDIT CONTROL
Ensuring each activity can be traced to a user and mechanisms are implemented to examine activity in information systems.
AUTHENTICATION & INTEGRITY
Authenticating user identities and protecting data from improper alteration or destruction.
INCIDENT REPORTING
Establishing a mechanism to report a security breach as per the mandated guidelines.
Compliance Documentation
Heavy Costs of Non-Compliance
The Data Protection Authorities have received over 95,000 complaints since GDPR came into effect.
A hospital in the Hague paid a €460,000 fine as “dozens” of its staffers accessed the medical data of a celebrity.
The biggest fine to date is €202 million, which was handed to British Airways in 2019.
The Buck Stops
With You !
- The responsibility of ensuring compliance rests with YOU. No finger pointing allowed.
- Your vendors may share fault or blame, but when it comes to compliance, it doesn’t lessen your responsibility in any way.
introducing: Compliance-as-a-service (CaaS)
We can help you achieve the mandated regulatory goals to help keep your business operational and stress-free.
As you have seen throughout this page, it’s no easy task to do all of that yourself, you’ll spread yourself and your employees thin.
You can delegate all of that, so you focus on your money-making activities while we take care of business.