Running a business involves many complexities that first-time founders, new entrepreneurs, and even seasoned business owners must navigate. Staying informed about cybersecurity is crucial. The advent of AI has provided hackers and cybercriminals with advanced tools, making it easier for them to steal user data, credit card information, disrupt business operations with ransomware attacks, and demand payouts.
As a business owner, your focus should extend beyond generating revenue and delivering excellent customer service, to include safeguarding the information on your website, mobile app, and physical business locations. This protects your customers and shields you from potential lawsuits and regulatory penalties resulting from breaches of laws and regulations governing businesses. This article will guide you on how security frameworks, controls, and compliance regulations work together to manage security risks, ensuring that everyone does their part to minimize threats.
The relationship between controls, frameworks, and compliance
The Confidentiality, Integrity, and Availability (CIA) triad is a basic model used in cybersecurity to help organizations protect their systems and information. It focuses on three key principles:
Confidentiality: Ensuring that information is only accessible to those who are authorized to see it.
Integrity: Making sure information is accurate and unaltered.
Availability: Ensuring that information and systems are available when needed.
These principles help guide how you set up security policies and assess risks in your business.
Security controls
Are measures put in place to reduce specific security risks. These controls work alongside security frameworks, which are structured guidelines designed to help you achieve your security goals and protect your data and privacy. A typical security framework includes four main steps:
Identifying and documenting security objectives: Knowing what you need to protect and why.
Setting guidelines to achieve these objectives: Establishing rules and procedures to meet your security goals.
Implementing robust security processes: Putting the necessary measures in place to protect your information.
Monitoring and communicating outcomes: Regularly checking your security measures to ensure they are working and making improvements as needed.
Compliance
This means following both your internal rules and external regulations that apply to your business. This ensures that you are meeting legal and industry standards for security.
Security Frameworks
The National Institute of Standards and Technology (NIST) is a U.S. agency that creates voluntary frameworks to help organizations manage risks. By aligning with these frameworks, you can reduce your risk. Two well-known frameworks from NIST are the Cybersecurity Framework (CSF) and the Risk Management Framework (RMF). These frameworks offer guidelines that can be adapted to different types of businesses.
Besides NIST frameworks, there are other security controls, frameworks, and compliance standards that you should be aware of to keep your business and customers safe.
To get started with these frameworks as a non-expert, consider the following steps:
Educate Yourself: Start by learning the basics of cybersecurity and the specific frameworks. There are many online resources and courses available.
Consult Experts: Hire a cybersecurity consultant or firm to help you understand and implement the necessary frameworks and controls.
Use Technology: Invest in cybersecurity tools and software that can help automate and manage your security processes.
Stay Updated: Cybersecurity is an ongoing process. Regularly review and update your security measures to keep up with new threats and regulations.
By understanding the basic cybersecurity requirements and taking the steps outlined above, you can protect your business, comply with regulations, and ensure the safety of your customers' information.
Key Cybersecurity frameworks, security controls, and compliance standards
Federal Energy Regulatory Commission - North American Electric Reliability Corporation (FERC-NERC)
FERC-NERC regulations apply to organizations involved with electricity and the U.S. and North American power grid. These organizations must prepare for, mitigate, and report any potential security incidents that could negatively impact the power grid. They are legally required to adhere to the Critical Infrastructure Protection (CIP) Reliability Standards established by FERC.
Federal Risk and Authorization Management Program (FedRAMP®)
FedRAMP is a U.S. federal government program that standardizes the security assessment, authorization, monitoring, and management of cloud services and products. Its goal is to ensure consistency across government agencies and third-party cloud providers.
Center for Internet Security (CIS®)
CIS is a nonprofit organization that provides a set of controls to protect systems and networks from attacks. Its aim is to help organizations develop a stronger defense plan. CIS also offers actionable controls that security professionals can follow during a security incident.
General Data Protection Regulation (GDPR)
GDPR is an E.U. regulation that protects the data and privacy of E.U. residents, both within and outside the E.U. If an organization is not transparent about the data it holds on E.U. citizens or the reasons for holding it, they can face fines. Additionally, organizations must notify E.U. citizens within 72 hours if their data is compromised in a breach.
Payment Card Industry Data Security Standard (PCI DSS)
PCI DSS is an international security standard designed to ensure that organizations storing, accepting, processing, and transmitting credit card information do so securely. Its objective is to reduce credit card fraud.
Health Insurance Portability and Accountability Act (HIPAA)
HIPAA is a U.S. federal law enacted in 1996 to protect patient health information. It prohibits the sharing of patient information without consent and is governed by three rules: Privacy, Security, and Breach Notification. Organizations must notify patients of a breach because exposing Protected Health Information (PHI) can lead to identity theft and insurance fraud. PHI includes any information related to an individual’s health, care plans, or payments. Additionally, security professionals should be familiar with the Health Information Trust Alliance (HITRUST®), which helps institutions meet HIPAA compliance.
International Organization for Standardization (ISO)
ISO sets international standards for technology, manufacturing, and management, helping organizations improve processes and procedures for staff retention, planning, waste reduction, and services.
System and Organization Controls (SOC type 1, SOC type 2)
Developed by the American Institute of Certified Public Accountants® (AICPA), SOC1 and SOC2 reports focus on an organization's user access policies at various levels, such as associates, supervisors, managers, executives, and vendors. They assess financial compliance and risk, covering confidentiality, privacy, integrity, availability, security, and data safety. Failures in these areas can lead to fraud.
Pro Tip: Regulations frequently change, so stay updated on revisions and explore additional frameworks, controls, and compliance standards. Two additional regulations to research are the Gramm-Leach-Bliley Act and the Sarbanes-Oxley Act.
If you are building an AI LLM or an AI generative conversational chatbot, test your models for compliance here:
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