The Essential Data Compliance Regulations Every Business Must Know

If you’re responsible for ensuring your organization adheres to all applicable data compliance regulations, you understand that it can be difficult to stay on top of the ever-changing regulations when data is constantly changing hands.

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In this blog post, we’ll go over the data compliance regulations every business needs to know and why they matter. We’ll also touch on how an outsourced IT company can help meet those standards. Let’s dive into the essentials of data compliance management!

Types of Data Compliance Regulations

Data compliance regulations come in many shapes and sizes. The most common data compliance regulations are:

The Health Insurance Portability and Accountability Act (HIPAA) of 1996
The Payment Card Industry Data Security Standard (PCI DSS)
The General Data Protection Regulation (GDPR) enacted in 2018

Each of these regulations serves its own purpose and businesses must adhere to all of them in order to remain compliant. Here’s what you need to know about each:

Health Insurance Portability & Accountability Act (HIPAA)

The HIPAA of 1996 applies specifically to healthcare organizations, such as hospitals or doctor’s offices. It sets out rules for how protected health information (PHI) must be handled. HIPAA requires healthcare organizations to implement measures such as encryption, risk management assessments, employee training programs, physical security standards for device management and storage areas, secure transmission methods for PHI between systems or providers, etc.

Payment Card Industry Data Security Standard (PCI DSS)

The PCI DSS applies to any company that accepts credit card payments online or over the phone, as well as retail stores that process in-person payments via credit cards or other payment methods such as Apple Pay® or Android Pay®. This regulation sets out a wide range of requirements designed to help companies protect cardholder data from theft or misuse by:

Implementing strong encryption methods on servers and devices used for payment processing
Enforcing strong password protocols
Conducting regular vulnerability scans
Training employees on privacy policies

The most common challenges companies experience with PCI compliance include inadequate monitoring, lack of visibility into the network, and weak authentication protocols.

Sarbanes-Oxley Act (SOX)

Finally, we have SOX, which applies only to publicly traded companies in terms of financial reporting accuracy, corporate governance standards, and internal controls over financial reporting processes. SOX requires publicly traded companies to establish a system of internal control over financial reporting in order to prevent fraud and misreporting. Companies must also perform an annual assessment of their internal controls over financial reporting processes by an independent auditing firm appointed by the board of directors.

International Data Protection Regulation (GDPR)

The General Data Protection Regulation (GDPR) is an EU-wide legislation that sets out rules for how businesses must protect and process personal data. It also applies to any company with operations in the EU, regardless of where they store their data. GDPR requires companies to implement technical and organizational measures to ensure that all personal data is collected, stored, processed, transferred, and destroyed securely according to strict criteria. Companies must also provide users with clear information about how their data is being used, as well as offer users the right to access their data or delete it at any time.

In Summary

While these four regulations are some of the most important data compliance regulations every business needs to know about, there are others—depending on your industry—that you should be aware of, including:

FISMA/NIST 800-53 Federal Information Security Management Act/National Institute Standards & Technologies 800-53 Edition 2011
Gramm-Leach-Bliley Act Financial Privacy Rule
California Consumer Privacy Act

As your business grows, your network should grow with you and that includes staying up to speed on the latest data compliance regulations. When you work with Medlin, our network assessment can help you identify gaps in your approach to data security compliance standards.

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How Outsourcing IT Services Can Help You Navigate Data Compliance Regulations

Outsourcing IT services can be a great way for businesses needing to meet these strict data compliance requirements more efficiently than with in-house staff alone. Many outsourced IT service providers offer comprehensive managed IT service packages that include security solutions such as antivirus software monitoring and maintenance along with 24/7 help desk support.

An around-the-clock support team can help you address any urgent issues regarding compliance, like passwords not working correctly or access requests needing prompt attention due. Regulatory timelines need to be met quickly, so having an outsourced partner you rely on for compliance can save the day when your internal team is occupied with internal projects.

Additionally, an IT provider can assess your current security measures, provide solutions to ensure compliance, and initiate regular audits to ensure that your data is secure and remains compliant with regulatory standards. Outsourcing can also provide your organization with access to industry-leading technology and resources that would otherwise be cost-prohibitive.

The right partner will have experience working with other organizations of similar size and scope, allowing you to benefit from their expertise in developing tailored solutions that meet the needs of both your organization and the applicable regulations. Partnering with an experienced IT provider can make it easier for you to stay up to date on changing regulation requirements while also providing a reliable solution for long-term data protection.

Turn to Medlin for Your Data Compliance Regulation Needs

Following essential data compliance regulations is important for all businesses operating today, no matter their size. At Medlin Communications, we understand the complexities of data regulation compliance and the need for organizations to stay up-to-date on all regulations. Our team of experts are here to help take the burden off your IT department, ensuring your organization stays in compliance. Reach out today to learn more about the benefits of outsourcing IT services for data regulation compliance. We look forward to hearing from you!

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The Essential Data Compliance Regulations Every Business Must Know

Types of Data Compliance Regulations

Health Insurance Portability & Accountability Act (HIPAA)

Payment Card Industry Data Security Standard (PCI DSS)

Sarbanes-Oxley Act (SOX)

International Data Protection Regulation (GDPR)

In Summary

How Outsourcing IT Services Can Help You Navigate Data Compliance Regulations

Turn to Medlin for Your Data Compliance Regulation Needs

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