Let's be honest: companies start thinking of taking any security measures when clouds begin to gather over their system security. Basing on our clients' feedback, the main reason they started looking for professional security companies is that once they realized how damaging cyber attacks could be and what the size of financial losses is. The reason could be caused by an incident of some virus attack that struck their competitor or rumors about a business being destroyed by malware infection and sunk in depts. In other words, the fear of losing money and company reputation can speed up clients to search for best penetration testing specialists.
However, an essential part of our clients confessed they wouldn't probably search for help from security experts if it wasn't for legal requirements. Banking institutions and healthcare organizations, retail and hospitality businesses, - any company that has authorization and personal accounts are asked to comply with regulatory rules.
Those standards aim at providing a smooth and secure flow of relationships between businesses and customers. Besides, an organization compliant with certain regulations is way more competitive and inspires more clients' confidence among other companies of its domain. More to that, falling short of appropriate security measures involves harsh penalties and considerable fines.
Let's get into some of the most popular international guidelines.
SOC 2 compliance is one of the most common US audits and the one that security-conscious companies are likely to start with to enhance their security. If a business is a SaaS provider and storages clients' data in the cloud SOC 2 is a minimum requirement. SOC 2 obligates companies to follow security policies and procedures that make customers confident their data is safe with the company.
One of the SOC 2 requirements asks firms to monitor any cloud activity. That's why we recommend penetration testing at least once a year: new types of malicious threats, that a company may not be even aware of, evolve at a great pace.
Good news - there are no penalties for SOC 2 non-compliance. Bad news - for investors and clients the absence of SOC 2 positive report is a sign the company is walking on the thin ice and is an unreliable partner.
PCI DSS stands for Payment Card Industry Data Security Standard. If a business is identified as the one that deals with cardholder data PCI DSS is obligatory prescription. The technical and operational requirements aim at helping organizations monitor and minimize any possible damage to confidential data involved in credit card payments and prevent security breaches. Depending on the volume of transactions, the non-compliance with PCI DSS requirements may spiral into costly penalties varying from $5,000 to $100,100 a month. In addition to that, data violation can result in client charges against a company and loss of reputation.
The ISO/IEC 27000 series of standards aimed at improving the security of company assets that include personal, financial and any other data not subjected to disclosure.
The sign of ISO compliance serves as a mark of approval for clients, partners, and employees that a company takes security seriously, follows security policies, assesses risks and conducts audits regularly.
HIPPA (Health Insurance Portability and Accountability Act of 1996) is set on a governmental level. According to this US federal law, healthcare entities (those that provide medical services) and other stakeholders that have access to patients' data are obligated to meet HIPPA requirements. Specifically, the Security Rule is applied to companies that store, process, and transfer electronic patients' records and payments for medical services, remarkably increasing security risks. Depending on the number of patients whose data have been stolen and the level of a careless attitude towards system intrusion the penalties vary drastically from $100 to $50, 000.
Over 60% of all consulting and auditing services provided in the world are delivered by the largest Big Four companies - Deloitte LLP, PricewaterhouseCoopers (PwC), Ernst & Young and KPMG. To gain weight on the market and inspire clients' trust cryptocurrency companies are required to provide a comprehensive penetration testing report for an audit. Since the "Big Four" plays such a significant role in the market of consulting services their mark of approval demonstrates the company's high level of security compliance and their agreement to work under standards of confidentiality, privacy, etc.
Compliance with security regulations any company should treat the same way as students approach finals to graduate from college. In the foremost, they have to properly prepare to pass the examination. That's where penetration testing providers step out of the shade. Dhound penetration testing company speaks up for what is promised. Security compliances are our wheelhouse and we're willing to help you enhance your system security and prosper in your domain.
It's essential to understand the security measures should be taken seriously not only by huge corporations that operate an enormous amount of data.
If your business stores or operates information online, whoops, you are a target for cyberattacks too, not to mention a mandatory set of rules set on a governmental level. And how about the competitiveness in your industry field? Certifications on successful compliance with international regulations will help you take the upper hand and result in an increase of company wealth and making your name.