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Regulatory Compliance Consulting to Assist Businesses in Governance and Risk Management

Regulatory Compliance Consulting
Compliance Consulting Service

Compliance Consulting Service

There are numerous industry-specific legislations and rules that organizations must comply with and the cost of regulatory non-compliance can be the loss of business itself.

We help businesses manage risks and comply with regulations and policies to strengthen their accountability and demonstrate ethical practices to customers, employees, and shareholders. Our consultants have experience helping businesses align with a range of compliance standards including:

  • HIPAA
  • PCI
  • SOX
  • GDPR
Risk Management and Regulatory Compliance

Risk Management and Regulatory Compliance

Any personal, health, or financial information a customer shares with your business, such as email address, medical records, or credit card number, constitutes sensitive data or personally identifiable information (PII). If your organization collects PII, the onus is on you to ensure the data remains safe. This is necessary to maintain user trust as well as meet regulatory compliance standards.

Waiting until a breach to check and streamline compliance can be suicidal for any reputable business. You need to proactively safeguard the data from malware and all kinds of cyberattacks. This calls for stringent audits, requirement analysis, and processes to be put in place. Constant monitoring and testing with appropriate remediation helps reduce the risk of compliance violation.

  • Compliance process design
  • Compliance testing
  • Non-compliance remediation

Achieving Data Privacy Compliance

Concerns over data security and customer privacy have shaped regulations such as General Data Privacy Regulation (GDPR). Complying with the different types of data security laws at local and global levels requires workflows and policies outlining handling, processing, storing, and disposing of sensitive data within your organization in accordance with the governing regulations.

Whether you are tracking online visitors to a website or your business requires you to handle credit card data, there are some key steps to ensure data compliance.

Know Your Requirements

Be clear about what data you need and for how long and act accordingly. Due to low data storage costs, many organizations tend to hoard information, often beyond its actual purpose and accuracy period. Reducing data clutter can help better comply with privacy laws.

In the case of financial data security, understanding the volume of credit card transactions your business processes during a year can help you identify which of the PCI compliance levels apply to your organization.

Map Your Data Flow

Identify what and where personal data is being collected, why, and where it is stored. Also, understand with whom the data is being shared. You can create a detailed map of the systems, networks, and applications that interact with the sensitive data across the enterprise.

A complete inventory of the data held by your organization, including why you need the data and what is being done with it, is pertinent.

Secure the Data

When you know all the touchpoints for PII across the enterprise, you can easily implement security protocols to safeguard the data. In addition to securing centralized databases, you may need to secure cloud backups, email servers, APIs, third-party applications, and partners.

Several of the security requirements to meet PCI, HIPAA, GDPR, and other privacy regulations overlap and follow best practices for protecting sensitive data for any business.

Set Up a System for Personal Information Reports

One of the common stipulations of data privacy regulations is that you must disclose to customers what data is being collected on them and whom it is being shared with. Customers can also request a copy of the data you hold on them.

As a compliant business, you will need a scalable system that can automatically generate such reports whenever requests come in.

Create Data Deletion Process

The right of a person to have their data deleted upon request is another commonality shared by data protection laws. Where complete PII erasure may not be possible due to the need to comply with other legal and corporate laws, you may need to de-identify the data.

A predefined process to remove or de-identify sensitive data upon request is yet another step towards compliance.

Know Your Requirements

Be clear about what data you need and for how long and act accordingly. Due to low data storage costs, many organizations tend to hoard information, often beyond its actual purpose and accuracy period. Reducing data clutter can help better comply with privacy laws.

In the case of financial data security, understanding the volume of credit card transactions your business processes during a year can help you identify which of the PCI compliance levels apply to your organization.

Map Your Data Flow

Identify what and where personal data is being collected, why, and where it is stored. Also, understand with whom the data is being shared. You can create a detailed map of the systems, networks, and applications that interact with the sensitive data across the enterprise.

A complete inventory of the data held by your organization, including why you need the data and what is being done with it, is pertinent.

Secure the Data

When you know all the touchpoints for PII across the enterprise, you can easily implement security protocols to safeguard the data. In addition to securing centralized databases, you may need to secure cloud backups, email servers, APIs, third-party applications, and partners.

Several of the security requirements to meet PCI, HIPAA, GDPR, and other privacy regulations overlap and follow best practices for protecting sensitive data for any business.

Set Up a System for Personal Information Reports

One of the common stipulations of data privacy regulations is that you must disclose to customers what data is being collected on them and whom it is being shared with. Customers can also request a copy of the data you hold on them.

As a compliant business, you will need a scalable system that can automatically generate such reports whenever requests come in.

Create Data Deletion Process

The right of a person to have their data deleted upon request is another commonality shared by data protection laws. Where complete PII erasure may not be possible due to the need to comply with other legal and corporate laws, you may need to de-identify the data.

A predefined process to remove or de-identify sensitive data upon request is yet another step towards compliance.

Compliance Consulting Service

Compliance as Code

Automating the implementation, verification, and remediation of organizational compliance using code can bring in agility. By integrating compliance into the CI/CD cycle, you can simplify both monitoring and reporting.

When compliance rules are translated into code, it can be easily scaled across the enterprise. Development teams can apply the rules and deploy faster leading to accelerated time-to-market. Exercising compliance on every change also reduces the risk of violation while creating a detailed audit trail.

Thus, compliance-as-code reduces the cost of ensuring compliance and easily generates data for audits allowing enterprises to stay compliant at speed and scale.

Worried about data compliance issues?