Cybersecurity is no longer just about protecting your data and digital assets. Organisations also face the challenge of achieving compliance against information and cyber security frameworks. This can create additional pressure and technical needs that many businesses don’t have the resources to contend with.
At JT we understand that your data, is your business, and to ensure it remains that way businesses need to understand the importance of cybersecurity and cyber compliance - read more below:
So, what is Cyber Compliance?
Cyber compliance is the practice of maintaining your cybersecurity policies, procedures and controls so that they meet a certain standard. Organisations already know that cybersecurity is a top priority, but implementing policies capable of keeping companies secure can be a lofty goal.
Governing bodies around the world are increasing their focus on security, with more now mandating a level of compliance against key information and cybersecurity frameworks.
Implementing a cyber compliance strategy simplifies this. It gives you a marker to aim for and creates consistency throughout your organisation.
Why is cyber compliance important?
Several factors make cyber compliance a critical strategy for any business. Here are just a few of the core reasons to invest in cyber compliance.
Ensure that sensitive information is kept safe
Cyber compliance ensures that your business keeps sensitive information safe. With data being such a valuable commodity, nearly all of your information could be considered “sensitive”, so why wouldn’t you want to protect it?
More specifically, the term “sensitive data” refers to data that belongs to your employees, customers, and your overall security, but can also include key operational information such as trade secrets, intellectual property and proprietary business strategies. Keeping this information secured is crucial to the success of your business and the safety of your stakeholders.
Regulations require that businesses follow cyber compliance
There are an ever-increasing number of cybersecurity rules worldwide. These regulations raise the bar for cyber compliance, forcing companies to do the same.
Regulations add a level of urgency to cyber compliance, as failure to comply could put your organisation in legal jeopardy. That said, regulations are not necessarily the final word on cyber compliance. For some organisations, they might only be the starting point.
Using cyber compliance protects your business against data breaches
Third, implementing cyber compliance will help your business stay guarded against data breaches. The average cost of a data breach in 2020 was $3.86 million, a 10% increase since 2014 (ibm.com). It’s not a stretch to think that this number will continue to rise as these breaches become more severe and frequent.
Following cyber compliance will give you a higher level of protection against these breaches, sparing your business millions in damages and potentially years of recovery.
What are the challenges of cyber compliance?
Maintaining cyber compliance consistently in a global organisation is difficult
Cyber compliance comes with its own set of challenges. Not the least of which is maintaining consistency in a global organisation. If your business has locations and headquarters throughout the world, then you’ll be faced with the challenge of keeping up your standard across multi jurisdictions with variations in regulations which can be difficult.
External vendors can pose a risk to your business
External vendors and service providers can make your service more efficient. But they can also pose a risk.
These providers are privy to your data, and once it’s in their hands, your security is only as good as theirs. Your business must account for your internal security risks and the external risks presented by these vendors.
Keeping track of your cyber compliance can be complex
Keeping up with your cyber compliance is no easy task. The more cybersecurity policies you implement, the more policies must be audited, updated, and monitored. Internal reviews are essential, but if not carried out they can leave you vulnerable to blind spots in your evaluation methodology.
How JT can help
JT is here to help you overcome these challenges. We offer various cybersecurity services, including cyber risk assessments and cyber compliance tools. JT has partnered with Centraleyes to bring their comprehensive, simple to use platform to the Channel Islands. Here are the three modules we offer to give your cyber compliance the bump it needs.
1st party risk
JT’s 1st party risk module ensures that your internal policies, procedures and controls are up to scratch. We compare your posture against best practices, spot vulnerabilities, and help you fill in the gaps.
3rd party risk
3rd party risk compliance involves evaluating your vendors. JT will collect breach reports on your behalf, fi nd new ways to secure your interactions with these vendors, and make recommendations about risky vendors.
JT’s Board View gives your business an overview of your cyber compliance and is easy to use for non-technical audiences. In one convenient place, you can track your compliance and threat level over time, letting you easily focus on the areas that need the most attention.
Book your FREE Cybersecurity Assessment
Cyber threats are continually evolving, and its imperative that your business is protected to prevent the latest information security threats, vulnerabilities and risks.
Reliable security can only be built on a combination of well-trained people, sound governance, accurate reporting and delivered by correctly configured technology.
Our FREE no obligation Cyber Assessment will examine each of these areas, producing a comprehensive study for your whole business.