You’ve probably heard stories in the news on a fairly regular basis about an organization’s data being compromised in a cyber attack.
In efforts to steal data online, acquiring data security compliance with the Securities and Exchange Commission (SEC) as well as other security standards has become a higher priority for businesses large and small. In this piece, we’ll look at what data security compliance means and why it is important for your organization.
What is data security?
To boil it down, data security is an organization’s ability to manage internal data — whether how it is stored, copied, shared, or destroyed — in a way that does not make the data susceptible to theft or tampering. With businesses’ pouring tremendous resources into acquiring and utilizing data, any exploited weakness in the security of said data systems can mean an enormous loss of revenue in the form of lost data, but also in the trust of customers as well as investors. In order to protect the sensitive information of citizens as well as organizations from hardships due to data security breaches, many legal standards have been established to limit data security compromises.
How does data security compliance differ from just data security?
While the concept of data security is a very broad concept, data security compliance in regard to receiving a “passing grade” from governing bodies as well as other non-governmental standards be quite granular. The U.S. Securities and Exchange Commission (SEC), for example, has strict standards for the security requirements of those seeking SEC data security compliance. While a data security professional may note that there are few actual specific standards for aspects of, say, data encryption or firewall protection within the SEC regulations, high overall standards are still set. The burden of developing and redeveloping systems that meet these standards typically falls on the organizations themselves and their IT departments. Cybersecurity professionals are, in a way, tasked with the arduous task of staying one step ahead of hackers, phishers, and other thieves of sensitive data.
How can organizations keep up with SEC regulations?
So, how can businesses and other organizations keep up with SEC regulations? One approach to protecting sensitive data as well as remaining up to date with SEC data security compliant standards is seeking out the assistance of experienced cybersecurity professionals. Yet another approach is to “batten down the hatches” with an electronic content management system that has such security features built into its infrastructure. Perhaps the most prudent approach is to invest in a solution that includes both of the previously mentioned measures.