Deliver your cloud system while achieving and maintaining industries compliance standards
Today’s businesses are largely data-driven and to manage, store, seclude and secure such sensitive data, organizations are steering rapidly towards the cloud. It is imperative to know about the countries, their authorities and laws that will be handling your data to comply and agree with their mode of commerce. It is challenging as every region has varied information security laws, information limitation laws and information power laws. Block attempt laws or access to data laws also need to be forethought of as they are the kind of laws that empower Governments to get access to information on the cloud. Therefore, recognizing corrective safety measures as per the expectations of the rules and regulations is a must. Cloud Compliance is all about complying with industry rules, regulations and policies while delivering through the cloud.
With most of the businesses migrating to the cloud, it is our responsibility to check whether our systems comply with industries specific regulations.
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Why is it important to be compliant?
Avoid non-compliance charges
As per the law, there are certain defined industry standards that need to be complied with while delivering any cloud system. No business would want to be charged for not complying with rules and regulations. Establishing a proper compliance management system is the best solution for organizations.
Driving Innovation and Change
Compliance is a remarkable asset for long term change. Ordinary conduct of business comes from set rules, and these sets of rules can be simplified and refined from time to time to improvise on existing standards that can significantly impact authoritative conduct. In the expression of framework scholars, quality can act as an influence point and compliance as the final spotlight to drive and assess change.
Following compliance standards guarantees a positive business image and fabricates the customer’s trust and loyalty. It constructs customer reliability and commitment that helps build a strong and lasting customer base. A business administration can build a good reputation through effective corporate compliance management where the executives and employees abide by all the stated legal regulations.
Data Security and Privacy
The ultimate challenge is to secure and store large amounts of client data while maintaining privacy. Being compliant with rules and regulations set under industry standards would minimize data breach and ensure trusted data security and confidentiality practices.
Reduce unforced errors
Compliance helps keep a check on unforced errors arising out of business performance. It is assumed that external risks like governance, legal, market, operational and environment affect an organization’s performance whereas most risks are internal that impact the project from within.
What CloudEnsure offers?
Do You have following questions in your mind?
CloudEnsure’s “Compliance Module” helps answer all of the above and is specifically built for multi-level use providing role-based functionalities. It provides a comprehensive analysis of your cloud environment through continuous monitoring and audits that help adhere to industry as well as geography based compliance standards.
The tool generataes various reports in order to highlight gaps, if any, as well as list out improvement areas that can match up with industry compliance standards and benchmarks to help remediate and mitigate risks. The compliance module also provides compliance scores to get an approximate idea about how much is a business complying with standards and how much more it needs to accelerate.
Thus, depending on your location and the industry you belong to, you can choose the most suitable compliance standards from the list provided below. Kindly note that the list of compliance standards would be updated on frequent basis.
The Health Insurance Portability and Accountability Act of 1996 (HIPAA) required the Secretary of the U.S. Department of Health and Human Services (HHS) to develop regulations protecting the privacy and security of certain health information. The Security Rule operationalizes the protections contained in the Privacy Rule by addressing the technical and non-technical safeguards that organizations called “covered entities” must put in place to secure individuals’ “electronically protected health information” (e-PHI).
GDPR is a new set of rules designed to give EU citizens more control over their personal data. It aims to simplify the regulatory environment for business so both citizens and businesses in the European Union can fully benefit from the digital economy. The reforms are designed to reflect the world we’re living in now and bring laws and obligations – including those around personal data, privacy and consent – across Europe up to speed for the internet-connected age.
The Center of Internet Security (CIS) is a not-for-profit organization that develops its own Configuration Policy Benchmarks, or CIS benchmarks, that allow organizations to improve their security and compliance programs and posture. This initiative aims to create community developed security configuration baselines, or CIS benchmarks, for IT and Security products that are commonly found throughout organizations.
PCI-DSS is a global organization that maintains, evolves and promotes Payment Card Industry standards for the safety of cardholder data across the globe. It serves those who are associated with payment cards, which includes merchants of all sizes, financial institutions, point-of-sale vendors, and hardware and software developers who create and operate the global infrastructure for processing payments. Its priority is to help vendors understand and implement standards for creating secure payment solutions.
The role of the Australian Prudential Regulation Authority (APRA) is developing and enforcing a robust prudential framework of legislation, standards and guidance that promotes prudent behavior by authorized deposit-taking institutions (ADIs), insurance companies, superannuation funds and other financial institutions it supervises, with the key aim of protecting the interests of their depositors, policyholders and superannuation fund members. Prudential regulation focuses on the quality of an institution’s system for identifying, measuring and managing the various risks in its business.
The Monetary Authority of Singapore (MAS) published Technology Risk Management (TRM) Guidelines to help financial firms establish sound technology risk management, strengthen system security and safeguard sensitive data and transactions. The TRM contains statements of industry best practices that financial institutions conducting business in Singapore are expected to adopt. The MAS makes clear that, while the TRM requirements are not legally binding, they will be a benchmark the MAS uses in assessing the risk of financial institutions (FI).
NIST is an agency within the US Department of Commerce that creates standards in the science and tech industries. NIST’s compliance standards assist federal agencies and contractors to meet requirements mandated under the Federal Information Security Management Act (FISMA) and other regulations. It’s not just used by government agencies, as NIST creates a framework for any organization that wants to assess security risks.
The Federal Risk and Authorization Management Program (FedRAMP) is a government-wide program that provides a standardized approach to security assessment, authorization, and continuous monitoring for cloud products and services. This approach uses a “do once, use many times” framework that saves cost, time and staff required to conduct redundant Agency security assessments.