A Changing Regulatory Climate
Over the past several years, State and Federal Governments have established regulations like: HIPPA, SOX, and NYDFS cybersecurity compliance. These regulations in part govern how your company should use, retain, and protect confidential information regarding your business, clients, employees, investors and stock holders. Failure to comply with these regulatory requirements can result in substantial fines and penalties for your organization.
If your organization is a public company, there may be personal liability for senior management and Boards of Directors who are found to have neglected their fiduciary responsibilities to protect shareholder value from avoidable risks. Managing your Information Security Risk requires the selection and deployment of appropriate controls in the context of the risk attitude and culture of your business.