What Are The Cybersecurity Legal & Regulatory Requirements?

Different countries, industries, and organizations may have different rules and laws about cybersecurity. Several industries also have their own rules and laws about cybersecurity, such as the North American Electric Reliability Corporation (NERC) for the electric power sector and the Federal Financial Institutions Examination Council (FFIEC) for financial institutions. Enterprises need to learn about and understand the relevant legal and regulatory requirements to make sure they are compliant and protect themselves from cybersecurity risks.

 

Common Regulations & Laws

There are several common regulations and laws that many organizations may need to comply with, including:

General Data Protection Regulation (GDPR)

The General Data Protection Regulation (GDPR) is a European Union rule that spells out safeguards necessary to secure the personal information of EU citizens.

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California Consumer Privacy Act (CCPA)

The CCPA is a California state legislation that mandates particular privacy safeguards and rights for California residents.

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Heath Insurance Portability and Accountability Act (HIPAA)

The Health Insurance Portability and Accountability Act of 1996 (HIPAA) is a United States federal statute that establishes rules for protecting the privacy of individuals’ medical records (PHI).

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Payment Card Industry Data Security Standard (PCI DSS)

Organizations that take credit cards must adhere to the Payment Card Industry Data Security Standard (PCI DSS) to prevent credit card fraud.

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National Institute of Standards and Technology (NIST) Cybersecurity Framework

The National Institute of Standards and Technology (NIST) Cybersecurity Framework is a series of recommendations for improving the security of businesses in the critical infrastructure sector.

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Sarbanes-Oxley Act (SOX)

U.S. federal law known as Sarbanes-Oxley (SOX) mandates that corporations with shares on public exchanges set up and maintain systems of internal controls for accurate and timely financial reporting.

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General Security Requirements

The majority of nations have laws and regulations mandating businesses to take adequate security precautions to maintain the privacy, accuracy, and accessibility of sensitive data. At least 25 states have laws that regulate the data security procedures used by businesses [view source].

Additionally, the Federal Trade Commission (FTC) has offered advice for companies on how to protect customer information, noting that the majority of businesses maintain sensitive customer information in their files and that, while this information is required to carry out essential business functions, it may also result in fraud or identity theft if it is obtained by unauthorized parties [view source]. Thus, it is crucial that businesses take appropriate steps to safeguard sensitive information.

Laws mandate that government organizations carry out cybersecurity training, establish and adhere to official security policies, standards, and procedures, and prepare for and practice responding to security incidents. Cybersecurity and the use of cybersecurity insurance in the insurance industry are governed by some of these laws.

It is important for US businesses in general to be aware of and comply with local and federal rules and regulations regarding cybersecurity and data protection. Companies must apply reasonable security measures and follow best practices to protect the confidentiality, integrity and availability of sensitive information

Cyber ​​security education is critical in today’s interconnected world. Cybersecurity training should be a top priority for providing employees with the knowledge and skills needed to detect and prevent cyberattacks. Companies that invest in cybersecurity training can better comply with legal and regulatory requirements and protect customer data. So whether you’re an individual or business, investing time and money in cyber security training is a smart long-term investment.

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