While businesses may usually focus their attention on ensuring that they are well protected against the criminal threats they face in the digital realm, it is also essential to consider the need for a consistent, persistently evolving approach to regulatory compliance.
Regulators may seem slow-moving when compared with the fast pace of the IT market, but they are becoming stricter and more savvy when it comes to assessing the organisations that they regulate and enforcing the rules they set down.
Instances of highly publicised cyber enforcement are surprisingly common, especially when major firms are involved. Those that suffer the wrath of regulators can incur embarrassment and reputational damage, as in the case of Morgan Stanley, which was fined for failing to protect customer data.
Avoiding such incidents should be a priority for companies of all sizes, which is why many make use of a software testing service, like that offered by https://www.bugfinders.com/ to ensure their systems’ privacy and security is up to scratch. Here are just some of the ways that you can shield your company from cyber enforcement today.
Prioritise compliant policies
Firms which tend to be hit hardest by regulatory action are those which have failed to formulate an effective governance framework, which has clearly outlined policies on how to proceed in relation to a range of cyber topics, from data protection and security to the monitoring of any third party providers that are used.
Included within this should be the decision to embrace many essential solutions which are designed to provide the base layer of protection that regulators and customers will expect, including firewalls, two-layer authentication and antivirus software suites.
Put in place regular testing
Policies and platforms are only worthy of investment as long as they are actually proven to be effective in the event of an attempted attack. This means it is important to test and assess the framework you have established on a regular basis, enabling you to find weak points and address them, before they are exploited by cybercriminals or picked apart by regulators.
Employing a specialist to take charge of this process is advisable, enabling your business to thrive, irrespective of the threats and scrutiny that it faces. Being transparent about your policies, as well as being keen to invest in employee training, can also be a good start.