Easy Compliance Changes for Your Business

Is Easy Compliance Possible? Common Myths About Cybersecurity

Many people believe in specific myths about cybersecurity and compliance. However, misinformation can compromise your networks, your information, and your customers’ protected data. Ask yourself whether you subscribe to any of the following beliefs:

• The old security measures are still working, so there’s no need to change anything.This is perhaps the most harmful myth in a finance-based workplace. Many business owners are under the impression that it’s not necessary to update compliance measures right away because last year’s model is still in place. In addition, some professionals assume that taking the time to reinforce compliance measures or update a system will slow down the system — or worse, causelags in employee productivity. In truth, it’s always better to have a secure system that follows compliance measures.
• It’s not necessary for all devices to be secure — especially in small businesses.In contrast to what many people believe, any device is vulnerable. It’s also possible that a cybersecurity attack won’t be external. Cyber attacks can come from within a business, from a vendor, or from someone posing as a client. They also occur in every size of business. Don’t assume that your business is safe simply because your brand isn’t a household name.
• Most employees don’t need to know anything about cybersecurity or compliance.In reality, you should brief all employees on the basics of both cybersecurity and compliance to ensure a secure workplace. Any weak point in your cyber compliance makes the whole organization more vulnerable. 

Don’t assume that you are safe from cyberattacks. Businesses of every size, in every industry, are at risk. Those in the financial sector are especially open to attacks even if the overall business is on the smaller side. Learn more about easy compliance measures to put in place right away to strengthen your overall organization.

5 Compliance Changes To Implement Immediately

On the whole, compliance seems like a simple topic. Businesses must adhere to industry rules and regulations to protect sensitive information such as credit card data, personal identification information, healthcare data, and information protected by certain levels of security clearances.

Many of these compliance issues are industry-specific — such as adhering toHIPAA regulationsfor healthcare-based businesses — but any business that maintains a database of secure information or collects credit card data is at risk for cyberattacks. Consider the following easy compliance changes you can start making right away.

1. Review Specific Rules Within Your Industry

To be sure that you’re up to date with industry-specific guidance on cyber compliance, check within your industry for new standards or updated guidance. Financial professionals, for example, should reviewPayment Card Industry Security Standards. It may surprise you to know that PCI compliance is not mandated by law — but this does not mean that you should neglect these easy compliance measures that you can update roughly once a year.

2. Be Strict About Data Access 

Do all of your employees need to have access to the same information? Probably not. If you work in the financial sector, it may help to assign passcodes to employees, designate specific employee identification numbers, and create a catalog of transactions. Similarly, do not give employees complete access to client cardholder data unless it’s absolutely necessary.

With many employees in the financial and tech sectors working remotely, your information is at greater risk throughout the year. It’s crucial to set strict rules for remote employees when it comes to accessing data.

3. Ask Everyone To Change Their Passwords on a Schedule

An easy compliance requirement, when it comes to PCI, is periodic password changes. This is the bare minimum to ensuring that your system is secure and not at risk of unnecessary breaches. Remember, cybersecurity attacks can happen anytime and from both inside and outside your company.

4. Find Vulnerable Points in Your System

Perform an assessment of your security, passwords, and any software you use to maintain your system and process customer data (including credit card information and payments) on a regular basis. Depending on your time constraints and technology proficiency level, you may need to hire outside help to complete all of these tasks. Having an automated system like Compyl that can track and ensure compliance will greatly benefit you.

5. Draft a Written Policy on Cybersecurity

This is perhaps one of the quickest easy compliance measures you can implement at your company. Draft a policy in writing and update it at least once a year. Additionally, make sure that every employee has a copy and that they are aware of their unique responsibilities (if any) when it comes to compliance measures. Creating a document that employees can reference will help everyone stay on the same page regardless of whether you already have company-wide policies.

Compliance Made Easy: Request a Compyl Demo

Compliance is a multifaceted venture that requires constant attention. Many smaller businesses do not have a chief information security officer, and those that do are often burdened by time constraints when it comes to cybersecurity compliance measures. However, not having a central manager for the compliance process can lead to unnecessary — and costly — weaknesses when it comes to your data and safety.

As an all-in-one information security and compliance automation platform, Compyl aims to fill these gaps and work with your company to provide flexibility as it grows.Request a demotoday to learn more about our platform and how we can help you make compliance changes to protect the security and integrity of your business.