Five ways to combine compliance & cyber security for business benefits

March 23, 2022

Compliance and security are two essential factors for running a business and both are equally important for seamless operations. However, they are two different things. Compliance helps your business stay within the limits of industry or government regulations. Security protects the integrity of your business and sensitive data.

 

Although security is a prime component of compliance, compliance does not equal security. This is because compliance does not consider the growing threat landscape and associated risks. What it considers, however, is a set of pre-defined policies, procedures and controls.

 

If an audit concludes that these pre-defined elements are adequate and your business adheres to them, everything is considered “okay” from a compliance standpoint. However, you still may not be up to scratch from a security standpoint, which only goes to show that you can be compliant but still fall short on security.

 

In other words, because compliance requirements take a predictable path and change slowly over time, the compliance landscape lags behind the rapidly changing, unpredictable security landscape.

 

We explain how your business can benefit by combining security and compliance.

Get covered with security and compliance solutions

There are multiple security loopholes that you must proactively fix to protect your business from threats. You can do this by ensuring you have some basic security solutions in place. These include:

Advanced Persistent Threats (APTs)

Attacks to endpoints, networks and the cloud are capable of paralysing hybrid, remote and on-site work environments. The best way to tackle APTs is by deploying a solution that can:

·       Offer 24/7 monitoring and threat hunting, such as Quintech’s User Security Suite.

·       Efficiently block malicious actors that evade firewalls and antivirus systems.

Insider threats

Over the last two years, insider incidents have increased by 47%. What makes this situation even worse is the fact that insider threats are tough to detect. That’s why it is advisable to have an advanced internal threat detection solution that combines machine learning and intelligent tagging to identify anomalous activity, suspicious changes and threats caused by misconfiguration. 

Lack of clarity about the network

Keeping track of all the computers, mobile phones, printers and servers on your business’s network is challenging, especially with the increase in remote working. But without knowing the devices on your network, it is not possible to know the health of your IT network. To combat this problem, you need an automated assessment and documentation solution capable of identifying risks to all assets, including those not physically connected to the network. Quintech’s risk assessment tool continually scans for risk across the IT estate, conducting an assessment to identify issues and vulnerabilities across the network followed by a recommended action plan and remedial solutions. Contact us for more information.

Technology is a great enabler for improving staff engagement and morale.

Tools like the aforementioned Zoom, Teams and Slack can help keep your staff connected throughout the day, from wherever they work.

And employee experience platforms like Microsoft Viva are a great way of monitoring your team’s wellbeing and fostering a workplace culture that empowers your people to perform at their best, from wherever they are working.

Untrained employees

When your employees are untrained and unaware of risky actions they could take, it could lead to severe security setbacks. For example, an employee carelessly clicking on a phishing link could lead to a full-blown ransomware attack on your business. Implementing routine security awareness training for employees can help you prevent a vulnerability from escalating into a disaster.

Credentials being sold on the Dark Web

Another major security issue that is on the increase is the exposure and selling of credentials on the Dark Web. Experts estimate that 60% of the information available on the Dark Web could negatively affect most business’s security and financials. Deploying a proactive threat monitoring solution will provide you with critical alerts should your business domain or employee credentials be discovered on the Dark Web. And the earlier you know about these compromises, the faster you can take action to resolve them.

It’s important to remember that inadequate data access protocols are not just a security issue but can also land you in hot water with regulators. Quintech can help you tackle all the above issues by advising you on the industry-best solutions for security awareness training, Dark Web monitoring and identity/access management.

 

Just like security loopholes, you must also fix compliance loopholes the moment you spot them. Non-compliance can even lead to regulators levying penalties as high as 4% of your company turnover. We’re not just talking about financial loss but also stakeholder dissatisfaction, a drop in market share and reputation. To avoid such trouble, use a solution that automates compliance processes and generates insightful reports that document compliance.

Merging security and compliance

Most companies have at least the minimum protection in place, such as an antivirus on workstations and active firewalls. However, you must make sure that your business’s security strategy can withstand the growing cyberthreat landscape. With some effort, you can incorporate your security solutions into your compliance strategy as well.

 

By carefully bringing both security and compliance together systematically, you can reduce risks significantly. To ramp up your organisation’s security strategy, you can implement solutions such as authentication, data protection, access monitoring and network-to-edge defences. By routinely validating the effectiveness of these solutions once they’re in place, you can ensure your organisation is taking the necessary measures to avoid non-compliance and security breaches.

Ready to take the next step?

Contact us today to learn more about how we can help you to combine security and compliance to prevent data compliance issues. As your strategic technology partner, we’ll work with you to assess your cyber security and the compliance requirements relative to your industry and identify the best ways to address them. Our role is to ensure your IT serves your business in the best way, to help you reach your full potential. From initial investigation and assessment to recommending and implementing cyber security and compliance solutions, our team of experts is here to provide advice, training and guidance to support the whole journey from start to finish.