Organizations are required to adhere to a set of regulations in order to safeguard sensitive data and people’s safety. Regulations must be followed by any company that deals with digital assets, consumer data, health standards, worker safety, or confidential communications.
Corporate and regulatory compliance are the two key categories that show where the framework is coming from. Corporate and regulatory compliance both involve a system of policies, procedures, and standards to adhere to.
As one of several safeguards to ensure data protection, regulatory compliance forces businesses to abide by rules that protect their resources from harmful attackers, thereby enhancing information security.
Examples:
- ISO 27001
- The Payment Card Industry Data Security Standard (PCI DSS),
- Health Insurance Portability and Accountability Act (HIPAA),
- Federal Information Security Management Act (FISMA),
- Sarbanes-Oxley Act (SOX), and
- The EU’s General Data Protection Regulation is an example of regulatory compliance laws and regulations (GDPR)
Benefits of Compliance with the Laws and Standardization:
Benefits of compliance for your company include:
- Following compliance guidelines could help the public and consumer community recognize the company’s principles.
- Increased Staff Morale.
- Sound commercial standing in a market.
- Employee Attrition is lower.
- Obtain the confidence of the public.
- Increased Share Values
- without any legal notices.
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