According to the Wall Street Journal, 74% of companies expect to increase compliance and cybersecurity spending in 2020. Companies are looking to modernize their cybersecurity postures to be better prepared for cyber-attacks and must spend the money up front to do so. When you consider vast regulatory frameworks such as CCPA, NYDFS, FFIEC, NYCRR, etc., how can your company ensure that your clients’ data is protected, while ensuring regulatory compliance and keeping and malicious hackers are kept at bay?
Cybersecurity Best Practices for Regulatory Compliance
In a world that is constantly changing and evolving, companies must to, especially in regards to their cybersecurity. As digital transactions increase, cyber criminals too become more advanced. A company’s cybersecurity team must try to stay one step ahead when it comes to regulatory compliance and incident detection and response. The best practices to help your company do that include:
Understanding the top cyber-attack methods and how to combat against them. It is easier to prevent a cyber-attack if you understand how it works and what exactly will be targeted. For instance, when it comes to phishing attacks, your IT team knows to monitor emails and advise not to click links from unknown senders. This same type of prevention can be learned for the other types of common cyber-attacks.
Understanding how your compliance and cyber postures can be solidified with SOC-as-a-Service. Utilizing a third-party firm for your Security Operations Center is a great way to stay at the forefront of cyber incident detection and response. They will act as your experts and be able to monitor 24/7.
Focusing your IT team on innovation instead of mundane monitoring. Pairing with the last point, your internal IT team has to take care of the day-to-day tasks of running your office and creating innovation solutions for your clients. You do not want them to spend all day monitoring for cyber incidents. SOCaaS will solve this for you while also saving you money.
Outsource Your SOC for Better Cybersecurity
With all of the regulatory compliance issues that come with the digital world and the incidents of new cybersecurity threats, outsourcing your Security Operations Center just makes good sense. A third-party firm will have the cybersecurity experts on staff and be able to stay abreast of new regulatory compliance issues for all types of data while your in-house IT staff can produce better solutions and help manage incident response. It is also a good cost-saving measure for your company’s bottom line.