The modern day complex and competitive business environment has compelled the U.S state and federal agencies to act to avert inaccurate reporting, privacy breaches, corruption and other fraudulent activities prevalent in the industry.
Understanding IT Security and Compliance Management Policies The modern day complex and competitive business environment has compelled the U.S state and federal agencies to act to avert inaccurate reporting, privacy breaches, corruption and other fraudulent activities prevalent in the industry. The increased rate of these incidents had made the government to act strict by implementing rigid policies such as HIPAA, HITECH, ISO, PCI and many more. With the government regulations becoming stricter today than ever, organizations are left with no option but to make sure that all the IT compliance criteria are fulfilled. Let us have a look at some important regulations and understand their implications. HIPAA Known as the Health Insurance Portability Act, (HIPAA), towards securing the health insurance coverage of employees and their families, when they change or lose a job. The act takes into consideration the privacy and security aspect of the patient health data, by motivating the use of electronic data interchange and improving the health care system efficiency. ISO ISO, i.e. the International Organization for Standardization helps in setting up voluntary international standards to make sure that the services and products are reliable, secure and of high quality. For businesses, it acts as a strategic tool that enables cost reduction and maximizes productivity. PCI DSS PCI DSS known as the Payment Card Industry Data Security Standard is an information security regulation for keeping a check on credit card forgery. PCI compliance is crucial for those companies that process, store and transmit credit card data. HITECH HITECH, i.e. the Health Information Technology for Economic and Clinical Health Act was enacted in 2009 as a part of the American Recovery and Reinvestment Act. HITECH takes into consideration any security and privacy concern related to electronic transmission of health data. HIPAA and HITECH compliance are essential, keeping in mind the increasing amount of health care frauds. There are various compliance regulations, policies and standards that organizations are required to adhere for averting any kind of penalties. With the help of efficient enterprise compliance management solutions, organizations can: Reduce financial and legal concerns through compliance Attain greater accountability and efficient governance Automate security, assessment, compliance, audit, risk and vendor management needs Streamline and minimize the time needed for regulatory compliance and certification process Therefore advanced IT security and compliance management solution with inbuilt frameworks for every security and compliance frameworks and other allied country-specific regulations, demystify complex regulations and standards. Read more on - IT compliance and security, HIPAA compliance, SecureGRC
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