The importance of cyber security compliance training cannot be underestimated, especially in the current era where we are seeing an increasing number of cybercrimes in the industry. As a business owner, conducting cybersecurity compliance training is now not just an option but an essential part of cybersecurity and various compliance programs. Unfortunately, most businesses are still far from taking such training programs seriously.

Usually, IT professionals and newcomers to the information security domain confuse security and compliance, which is not their fault. Both are to protect individuals’ and businesses’ digital and physical assets through appropriate security measures.

Today’s threat landscape is driven by digital transformation and the outsourcing of critical operations to third-party vendors. Cybercriminals’ high demand for sensitive data paired with a historical lack of cybersecurity investment across the industry is cause for concern. Healthcare organizations recognize they have the choice to either increase their cyber spending or inevitably fall victim to a costly data breach. However, investing in cybersecurity solutions alone isn’t enough.

In March 2022, the Payment Card Industry Data Security Standard (PCI DSS) was updated with a number of new and modified requirements. Since their last update in 2018, there has been a rapid increase in the use of cloud technologies, contactless payments have become the norm, and the COVID-19 pandemic spurred a massive growth in e-commerce and online payments.

The Higher Education Community Vendor Assessment Toolkit (HECVAT) helps higher education mitigate the impact of security risks of vendor relationships offering cloud-based services. With supply chain attacks on the rise, and vendor risks ranking in the top three initial attack vectors for data breaches, HECVAT compliance is becoming a mandatory requirement for partnering with higher education institutions.

So many great software and cloud-based organizations turn away from working with the US Government because the authorization to operate (ATO) processes are prohibitively complicated, expensive, and time intensive.

Identity fraud has been a significant threat to businesses. Industries related to finance and financial institutes, tourism, and hospitality are the most affected by this. Although scammers use various methods and tricks for identity theft, synthetic identity is a major concern and is a popular trend amongst fraudsters. Synthetic Identity Theft is a complex form of theft in which the person’s identity is imitated.

What is a Trust Champion? A Trust Champion is the person who helps their organization measure and meet its internal compliance obligations. Their actions support revenue-generating activities, protect their organization from legal and contractual liabilities, and enable the organization to confidently and transparently showcase an intentional, robust, and differentiated culture of trust. Arun Nagarajan – Co-founder & CTO – has led the compliance journey at BigSpring.