Healthcare organizations need to meet HIPAA and other medical compliance standards.
Financial firms have strict guidelines with FINRA.
Retail and any organization that accepts payments have to be compliant with PCI.
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Osage Ensures Your Compliance With Industry Standards
Over the last several years, organizations large and small have experienced a major uptick in the number of regulations across all sectors regarding the security of information technology solutions and technology systems in general.
Osage Cybersecurity works with large and small organizations to ensure they address all their industry standards regarding the security of customer information, data in general, and any confidential information they store and share.
The financial sector has a number of cybersecurity requirements set at the federal and state level. The most common set of security requirements can be found in the Federal Financial Institution Examination Council handbook or FFIEC-IT.
The FFIEC-IT is comprised of a number of booklets that contain resources and requirements that financial institutions must adhere to.
There are also many different guidelines that financial regulatory bodies have released. One example is the Office of the Comptroller of Currency (OCC), which has put out a guideline on third-party risk management. These guidelines are issued to all organizations that fall under their responsibility.
The retail sector isn’t federally regulated, but it does follow regulations from the Payment Card Industry Security Council’s Data Security Standard (or PCI DSS).
This group issues cybersecurity standards that any business or organization that processes payment cards or holds payment card data must follow.
The best-known industry standard for cybersecurity compliance in healthcare is the Health Insurance Portability and Accountability Act. HIPAA establishes cybersecurity standards for healthcare organizations (covered entities), insurers, and the third-party service providers medical organizations (business associates) must adhere to. It’s so important for every healthcare organization to meet HIPAA regulations. Failure to do so can result in hefty fines.
Providing services to the U.S. Department of Defense (DOD)? All businesses must meet stringent requirements found in the Defense Federal Acquisition Regulation Supplement (DFARS) and Procedures, Guidance, and Information (PGI). DFARS outlines cybersecurity standards any third-party organization must meet and comply with prior to doing business with the DOD. These standards ensure the protection of sensitive defense information.
Currently, 47 out of 50 states (and the District of Columbia) have cybersecurity compliance requirements for all organizations to notify states about any security breaches that may compromise customer data.
For instance, if your company holds sensitive personal information about customers—like social security numbers, account numbers, or payment card information—and you experience a breach, you’re must notify those affected within a specified time frame.
The Federal Trade Commission (FTC) can also fine organizations for failing to adequately protect consumer data. When these breaches do occur, consumers often file their own personal injury lawsuits.
While regulations for insurance companies and organizations vary from state to state, many have issued requirements to protect client information.
Osage Cybersecurity has experienced an increased interest in adding more regulations in this area.
In October 2016, the New York State Department of Financial Services (DFS) proposed new regulations around cybersecurity for both financial organizations and insurance companies.
The Federal Energy Regulatory Commission (FERC) has the authority to establish cybersecurity regulations over almost all electric utility companies. These cybersecurity standards are created by a nonprofit authority known as the North American Electric Reliability Corporation (NERC). Their compliance regulations are known as the Critical Infrastructure Protection (CIP) Standards.
Osage Cybersecurity is ready to help. Book your initial consultation with our compliance and cybersecurity specialists today by sending us an email to firstname.lastname@example.org or by calling our compliance and security team at (225) 960-4941.