7 Key Elements to Building a Compliance Program
As cybercriminals to evolve their threat methodologies, industry standards and governments have revised their compliance programs and audit criteria. Regulators and auditors have increasingly begun requiring organizations to mature their programs in order to ensure continuous monitoring as well as senior management and board-level oversight.
To meet these challenges, organizations need to create cyber security compliance programs that ease the burdens associated with increasing audit scrutiny. This ebook covers:
- The importance of appointing a compliance team/officer
- Why to engage in risk analysis, and how to document it
- How important it is to establish cyber security processes and procedures
One report cited a 6.4% increase in the average total cost of a data breach and found that companies that experienced a breach in less than 30 days saved over $1 million.
Research indicates that 17% of immature cyber programs have a single individual in charge of cybersecurity, while 55% of mature programs have a single individual in charge.
Another report found that in the financial sector, 79%, in manufacturing 89%, and in healthcare 43% of data breaches were caused by external actors.