Data security has become an essential aspect of our lives and is more crucial than ever before. In the healthcare industry, organizations are entrusted with a plethora of sensitive information, including PHI, PII, and financial data. This renders them accountable for complying with both HIPAA and PCI regulations. Adherence to these regulations is paramount for safeguarding sensitive patient information from data breaches and cyber attacks.
Becoming aware that your company has suffered a data breach can be unsettling. However, due to the nature of cybercriminal activity, it is crucial to react quickly and correctly to contain the incident, minimize any further damages, and protect your business from legal troubles. Data breaches are affecting millions of people across the globe, with over 340 million records already compromised in 2023 headline cases and new incidents surfacing every week.
In the digital age, identity theft poses a pervasive threat that organizations, regardless of their size or sector, must relentlessly combat. This insidious form of cybercrime involves the malicious exploitation of sensitive and confidential data, carrying grave implications for any organization. The consequences of a single breach can encompass financial losses, irreparable damage to reputation, and the imposition of regulatory penalties.
“Technology trust is a good thing, but control is a better one.”
Since the onset of the pandemic in 2020, global concern for data security and privacy has skyrocketed like a dazzling display of fireworks on New Year’s Eve. With an ever-increasing number of people utilizing online services and sharing their personal information on websites to engage in e-commerce transactions, the infrastructure for collecting and safeguarding consumer data has become of paramount importance.
As the world has evolved in significant ways over the past several decades, so have the threats that businesses face daily evolved. In particular, cybercrime has grown into a nefarious force that harms businesses and causes irreparable damage. From holding information ransom to stealing private financial information, there is no limit to the damage that cybercriminals can inflict upon your operations.
Cybersecurity has become a top priority for organizations across all industries and sizes. To safeguard their sensitive data and assets from the ever-evolving threats of cyberattacks and data breaches, businesses must take a proactive approach. Adherence to industry-specific cybersecurity regulations and frameworks is a critical component in building a robust and comprehensive cybersecurity program.
The Advancement in technology and online payment transaction has offered an immense amount of convenience to both consumers and businesses. The ease and widespread acceptance of online payment including the credit/debit card transaction has streamlined business processes and payment transactions greatly.
HIPAA is a legal healthcare privacy standard passed into law by the Clinton administration. The law standardized how private healthcare information had to be protected and stored by hospitals. In its earliest years of inception, these rules were straightforward. Things have changed considerably. With the digitalization of healthcare records, it’s now easier than ever for patients and hospitals to access records, but it’s also easier for bad actors.
California Consumer Privacy Act is a data privacy regulation introduced to protect the privacy of personal data and uphold the rights of consumers. So, it is an obligation for organizations to achieve and maintain CCPA Compliance if they are dealing with the personal data of citizens of California. However, now CCPA will soon be replaced with the latest version which is known as the California Privacy Right Act (CPRA).
