Increased customer confidence
Organizations that achieve regulatory compliance can indicate to stakeholders that they met specific standards and are certified by an official regulatory body. Following these regulations helps prove the organization’s ethics, integrity, and reliability, thus strengthening the organization’s competitive position.
Complying with regulations
Regulatory compliance is mandatory for certain industries and jurisdictions. Each organization must comply with certain regulations within its business and economic landscape.
Healthcare organizations and financial institutions
for example, must comply with data protection, consumer privacy, and cybersecurity requirements.
Regulatory standards
KL Tech works with several regulatory standards including NIST 800-53, PCI DSS, ISO 27001, NY DFS 23NYCRR500, FTC Safeguards, GDPR and HIPAA.
Improving security
all organizations are exposed to the risk of cyber-attacks, security breaches, and consequential data loss. Complying with regulations and industry standards acts to tighten an organization’s security controls and improve its security posture. This reduces the risk of successful cyber- attacks, which can cause major damage to an organization.
Addressing compliance risk
noncompliance with regulations may result in disciplinary action such as license revocations, lost customers, financial penalties and losses, and damaged reputation. An effective compliance program protects the organization against these risks.