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.
Regulatory compliance is mandatory for certain industries and jurisdictions. Each organization must comply with certain regulations within its business and economic landscape.
for example, must comply with data protection, consumer privacy, and cybersecurity requirements.
KL Tech works with several regulatory standards including NIST 800-53, PCI DSS, ISO 27001, NY DFS 23NYCRR500, FTC Safeguards, GDPR and HIPAA.
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.
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.