Whether your Florida business is thinking of adopting cloud computing or simply using basic email services, it is important to be aware of the need for cybersecurity compliance.
Theft of digital information can result in serious penalties and reputation losses. That is why having IT support in Florida and a comprehensive understanding of cybersecurity requirements and regulations is necessary for organizations to protect their customers’ sensitive information.
What is Compliance?
Compliance is a set of policies and procedures aimed at protecting data from threats posed by malicious actors or accidental exposures. It is mainly concerned with ensuring that confidential or sensitive information remains secure by following industry standards and regulations.
Cybersecurity compliance helps companies manage their security risks and protect customer data by meeting industry standards and regulatory requirements. To achieve this level of protection, businesses must understand the threats they face and develop an appropriate security plan to provide adequate protection against them.
Risks Associated With a Data Breach
The risks associated with a data breach can have serious consequences for any business. Businesses who do fail to live up to cybersecurity compliance regulations or standards can face any of the following repercussions:
Crippling Financial Loss
IBM reported that the average cost of a data breach in the United States has neared $10 million, the highest average in the world. Data breaches can cost companies lost productivity, legal fees, reputational damage, and fines.
A data breach will have a direct impact on customer trust in the company and its services. Customers may lose confidence in the brand and take their business elsewhere.
Companies that fail to comply with industry standards may face increased regulation from government agencies or other third parties. This could mean additional costs for businesses to remain compliant.
Where to Start with Cybersecurity Compliance
Given how serious the consequences are for failing to meet compliance requirements, Florida businesses need to take proactive steps in understanding and addressing their risks. Businesses need to:
- Identify the types of data they collect, store, and transmit.
- Establish security protocols or policies that are specific to the type of data being handled.
- Train employees on the importance of cybersecurity compliance and proper security procedures.
- Implement appropriate technical safeguards such as firewalls, encryption, access control systems, etc.,
- Monitor their networks for threats and vulnerabilities regularly.
- Perform periodic audits to ensure adherence to standards.
- Develop contingency plans in case a breach does occur so that it can be contained quickly and effectively managed with minimal disruption.
Major Cybersecurity Regulations
To stay compliant with industry standards on cybersecurity, companies should be aware of the following major regulations:
- CMMC (Cybersecurity Maturity Model Certification): This certification program ensures contractors have adequate cyber protections and processes in place when handling sensitive government information.
- NIST (National Institute of Standards and Technology) Cybersecurity Framework: This framework provides a set of guidelines on cyber safety standards for organizations to help protect their digital assets.
- HIPAA (Health Insurance Portability and Accountability Act): This act is designed to protect patient information in the healthcare industry by setting requirements for how protected health information must be stored, processed, transmitted, and maintained.
Don’t Wait! Let Axiom Help You Get and Stay Compliant Today
At Axiom, we understand the importance of cybersecurity compliance and IT Solutions for your Florida business and are dedicated to helping our customers stay compliant with industry standards on cybersecurity. Our team of experts can help ensure that your company meets all regulatory requirements, minimizing the risks associated with a potential data breach.
Contact us today to learn more about how we can help you protect your digital assets!