We’re excited to announce that Riscosity has successfully completed its SOC 2 Type II audit. This is a big effort for any organization, and it shows our commitment to protecting our customers’ sensitive data.

In today's fast-paced business environment, the ever-evolving landscape of technology empowers employees with unprecedented flexibility and agility. While this fosters innovation and productivity, it also presents a lurking challenge—Shadow IT. This term encapsulates the use of unauthorized software, applications, or devices within an organization, posing substantial cybersecurity risks and operational hurdles.

Third-party assessment organizations, or “3PAOs,” play a crucial role in compliance with the Federal Risk and Authorization Management Program, more commonly known as FedRAMP. 3PAOs assess the offerings of cloud service providers (CSPs), to help those CSPs satisfy their FedRAMP compliance obligations. Moreover, the 3PAOs’ input allows U.S. federal agencies to make informed, risk-based decisions about the CSPs those agencies might want to use.

If you’re a business executive or a risk leader, you’re likely familiar with “proxy season,” the time of year when public companies hold their annual general meetings. During these meetings, investors have the opportunity to vote on important issues such as the election of board members and executive compensation.

Audit logs are essential for ensuring the security of an organization’s information systems. They track all events that occur within a system, including log-on attempts, file access, network connection, and other crucial operations. Should But, without proper management, audit logs are mostly a wasted opportunity – nothing more than scraps of data whose importance and potential are never harnessed.

Third-party risk is everywhere and the cybersecurity posture of those third parties is more important now than ever before. With organizations using 130 SaaS solutions on average, onboarding the “wrong” vendor — one that doesn’t share the same cyber practices or hygiene as you do, or that sharing sensitive data with would be cause for concern — could land an organization in hot water.

The Securities and Exchange Commission (SEC) in the United States approved their cyber rules on July 2023, originally proposed in March 2022 for public comments (SEC, 2022; 2023). This has sparked many conversations about how the board of directors and executive management should think about cybersecurity and to what extent public disclosures should be made about cybersecurity incidents and risks. Most notable among them is the requirement that material cyber incidents be reported within four days.

The past decade has seen governments around the world introduce significant new legislation covering data, cybersecurity, and technology. This has been part of a sustained effort to regain some influence over big tech and impose good governance practices on how businesses capture, protect, and manage data. This shift towards greater regulation has been largely led by the EU, which implemented the General Data Protection Regulation (GDPR) in 2018.

As global data privacy and cybersecurity regulations continue to increase, the pressure for organizations to manage compliance risk grows. The first step in your journey to better compliance risk management is compliance risk assessment. With risk management methodologies, a compliance risk assessment analyzes how an organization might not meet its regulatory compliance obligations.

Corporate compliance is not a new idea; for many years, organizations everywhere have had to comply with certain rules and standards to reduce risks and vulnerabilities. Those rules might be defined internally by the company’s compliance team or by an external party such as a regulatory agency — but either way, they are rules that the company must follow. An effective compliance function assures that the organization complies with both internal and external rules.