In today’s world where information security is fundamental to businesses to protect their systems, network and data, compliance to ISO 27001 is crucial. ISO 27001 is an internationally recognised set of standards that helps organisations manage their information security by establishing, implementing, and maintaining an information security management system (ISMS).
Broadly speaking, an information security program is a set of activities and initiatives that support a company’s information technology while protecting the security of business data and enabling the company to accomplish its business objectives. An information security program safeguards the proprietary information of the business and its customers. The Gramm-Leach-Bliley Act (GLBA) has a more specific definition of what a security information program should entail.
When a leading financial technology provider began posting record success and rapid customer growth, it needed a holistic security strategy to protect its customer data and comply with regulations such as the Payment Card Industry Data Security Standard (PCI DSS) and the California Consumer Privacy Act (CCPA).
Cyber security risks have never been more apparent and costly. According to the survey data, the average cost to the U.S. organizations that experienced a cybersecurity breach in 2020 was approximately 8.64 million dollars per incident, up almost a half-million dollars from 2019. Rates of cyber security attacks and identity theft have significantly increased and seem to be only becoming easier for hackers and cybercriminals.
Compliance is a key part of any organisation and in business terms, it is about ensuring companies of all sizes and their employees comply with existing national and international laws. In the UK the Companies Act 2006 is the main legislation that forms the primary source of company law and businesses of all sizes must ensure they adhere to it to remain compliant.
