Let Us Guide You Through Your InfoSec & Compliance Journey.
Learn how to use the Compyl Platform.
Watch all Security Session Episodes
Real-world stories on how we help our customers.
In response to regulatory changes and a significant rise in data breaches (over 3,200 events in 2023), a growing number of businesses are embracing a governance, risk and compliance (GRC) approach to information security. Compliance is one of the main pillars of a GRC framework. With Meta making headlines for a whopping $1.2 billion fine for regulatory violations in 2023, it’s clear that organizations of every size need to take non-compliance seriously. The first step is to understand what compliance is in GRC approaches.
In GRC, compliance means implementing company procedures that meet regulatory, industry, or legal standards. It’s not enough for organizations to align their policies with legal requirements; they must also take steps to ensure workers are following the appropriate guidelines.
Compliance with industry standards such as ISO 27001:2022 isn’t always mandatory, but it’s usually vital for organizations that want to stand out. For example, all companies looking to process, store, or handle credit card data must follow PCI DSS standards. This also improves trust with clients and reduces security risks.
The GRC framework isn’t a one-size-fits-all template. GRC compliance means different things in different industries. To be effective, compliance management needs to fit the size, scope, challenges, and operations of each organization.
To build a compliance framework, enterprises first need to identify which regulations, laws, and standards apply. Next, they must perform a gap analysis to compare their current compliance level with the necessary regulations.
In the case of governmental regulations, deviations usually require urgent changes. With data security standards such as ISO 27001:2022, compliance is a longer process that organizations build toward in stages.
Once the scope of compliance requirements is clear, organizations need to create security controls that follow accepted best practices. These controls range from physical security to network security.
To comply with cybersecurity frameworks like NIST and CIS, enterprises should implement access control measures, log tracking, encryption technology, network monitoring, and similar defenses. An automated workflow can support compliance by reducing the risk of human errors.
Organizations must continually verify compliance to benefit from the GRC model, especially considering the dynamic nature of cybersecurity threats. Compliance software platforms offer tools for continuous monitoring, allowing administrators to view user activity, impacted assets, system changes, suspicious actions, and many other elements of infosec compliance. Logs can reveal violations at every level of an organization, from employees failing to create required reports to IT staff not following up on red flags.
Compliance isn’t limited to government audits. Large organizations frequently monitor compliance with internal policies as well.
Internal audits help to increase productivity and lower overhead. They can reveal redundant systems and data silos, cybersecurity vulnerabilities, and areas for improvement.
Performing internal audits can accelerate compliance with industry certifications. Many GRC compliance platforms support customized frameworks and controls.
A large part of compliance in GRC systems involves documentation, reporting, and evidence gathering. After an initial audit, companies generally have time to implement changes before the primary audit. Using a compliance management tool during this stage can significantly cut down on the organizational resources required, especially when the platform offers automated report generation and systemwide event tracking.
The specific requirements of GRC compliance vary considerably depending on the frameworks that organizations need to follow. While some controls are similar, the scope, number of controls, level of detail, and audit requirements are different.
HIPAA guidelines focus on safeguarding protected health information on patients. HIPAA compliance follows a detailed Privacy Rule and Security Rule. Regulations outline the steps healthcare organizations and business associates must take to prevent data breaches and prevent unauthorized individuals from seeing patient records, billing details, test results, and other types of PHI.
The GDPR is a wide-ranging framework that revolves around privacy protections and control over personal data for citizens of the European Union. GDPR compliance requires enterprises to obtain clear consent for data processing, restrict unauthorized access to information (including inside the organization), and avoid transferring personal data outside the EU.
SOX compliance relates to financial reporting controls, recordkeeping accuracy, and executive certification of financial statements. This legal framework is relevant for publicly traded financial businesses and investment companies.
Similar to the GDPR, the CCPA is a broad set of regulations related to data privacy for California residents. CCPA compliance requires enterprises to:
The CCPA applies to enterprises that do business in California and generate more than $25 million in gross annual revenues.
PCI DSS governs the handling of cardholder information for credit cards, debit cards, cash cards, and CNP transactions. PCI DSS compliance involves following 12 control families that range from firewall configurations to network monitoring. The total number of controls and audit requirements depends on the volume of annual credit card transactions.
CMMC guidelines focus on protecting Controlled Unclassified Information and Federal Contract Information. All businesses in the DoD supply chain must comply with the CMMC framework, including defense contractors and their suppliers. Many organizations that pursue CMMC compliance also target NIST CSF, NIST SP 800-171, and NIST SP 800-53 cybersecurity models.
Avoiding fines and penalties is a major reason to invest in GRC compliance frameworks. Take PCI DSS as an example. The consequences of violations can include penalties of up to $500,000 for data breaches, ongoing fines of $100,000 per month for non-compliance, or the complete loss of payment processing privileges.
Many infosec frameworks also represent the gold standard for industry providers. High-profile clients may only work with organizations that have ISO 27001 or SOC 2 certification. To bid on DoD projects, NIST and CMMC, compliance is a must.
State-of-the-art software platforms are the answer to whatever compliance is involved in GRC frameworks. Compyl helps organizations avoid redundancies, monitor compliance, implement robust security controls, and automate the necessary workflows. Contact us to learn more about our compliance solutions right away.
