Regulatory Compliance –necessary task or engine behind the secure future?

Many times during our conversations, we hear that Company adopts new cybersecurity toolset due to regulatory compliance.? It’s safe to say this situation creates mixed feeling in different departments because…

… it is helping IT security teams and cyber-aware members of management because they get to enhance cyber resilience, equip themselves with tools to keep company safe and be less stressed due to defensive capabilities they gain. … it is seen as an additional burden by those less understanding impacts of poor cybersecurity posture as it introduces new processes, rules and costs...

Let’s go a little back and explain - what exactly is regulatory compliance?

Simply stated, regulatory compliance is an organization's adherence to national and international laws, regulations, guidelines and specifications relevant to its business processes.

And why is needed?

Because regulations and laws are about trust. Let’s think about human-to-human interactions… We strongly believe You would rather do business with person who has strong moral rules and for example – will not break the given word. Will not lie. Will have integrity of words and actions. Same goes with business interactions. Companies feel safe investing in countries that incorporate laws that guard the safety of the business. The same goes for Your Customers interacting with Your Company. The bigger the stakes, the more they will care if You adhere to regulatory compliance imposed by the country and industry.

Few examples:

• Would You share Your Customer data with entity that does not comply with GDPR?
• Would You start cooperation with Operator of Essential Services if he wouldn’t be fulfilling NIS2 requirements?
• Share Your credit card data with business not compliant with PCI-DSS?
• Give access to Your medical records to healthcare provider without HIPAA compliance?

We would restrain ourselves from doing so even if the offer was compelling. Because bottom line is – those laws exist to protect people and controls deployed to achieve compliance are supporting this goal.

Of course, having to adhere to new laws is a change, and how You respond to it is your choice. We can help if You make the right choice.