The importance and complexity of compliance programs in the workplace has grown steadily alongside the advancements in technology being used today. With regulations frequently changing and raising standards, businesses may be at risk for fines, sanctions, and penalties if they haven’t kept current on requirements. Managing compliances independently can be a key challenge for organizations and difficult for an IT department’s time and focus. Many businesses understand that outsourcing compliance management services can be of great benefit. By reduction of risk, liability and time, IT can focus on in-house matters and daily tasks.
When selecting a company to outsource your compliance management, it’s key to remember that the goal is not minimally meeting requirements, but ensuring full record compliance exposing security and integrity. Keeping current on standards are unequivocally vital for Healthcare, Financial and Government industries.
We have highlighted some of the most prevalent compliance regulations today.
The Health Insurance Portability and Accountability Act provides federal protections for individually identifiable health information held by Covered Entities (CE) and their Business Associates (BA), as well as providing patients an array of rights with respect to that private information. These standards include physical and technical safeguards, audit reporting, tracking logs, technical policies and network transmission security. This, all to protect the integrity of your personal medical records. These safeguards are based around controlling what authorized facilities have access to electronic protected health information (ePHI). A MSP that is HIPPA compliant must prove capable of preventing unauthorized or public access to email, Internet use, VPN’s and access to private cloud data.
The Sarbanes-Oxley Act came into force in July 2002 and introduced major changes to the regulation of corporate governance and financial practice. The Sarbanes-Oxley Act is arranged into eleven 'titles'. As far as compliance is concerned, the most important sections within these eleven titles are usually considered to be 302, 401, 404, 409, 802 and 906. The theme to hold on to when looking at SOX is transparency and verifiable security controls protecting against disclosure of confidential data. While these compliances were made for publicly held companies, they also apply to privately owned businesses. The objective was to prevent willful destruction of evidence that is involved Federal investigations.
The PCI DSS regulation was introduced as a minimum-security baseline for merchants and security providers who store, process, and transmit credit card data. PCI DSS was enacted to reduce credit card fraud having an open exposure of data. Every major credit card company used to have its own policy for data. However, PCI DSS was composed of individual security policies from VISA, MasterCard, American Express, Discover, and JCB in order to set an industry-wide standard of securing credit card data. In order to obtain PCI DSS compliance, a facility must pass an annual audit verifying security controls and procedures are set into place.
For more information on other compliance regulations affecting your organization, be sure to check back on our blog for future topic posts. Questions and compliance questions can be addressed to our System Administration team at http://www.creativeresources.net/contact-us