Compliance standards exist to provide a baseline for customer privacy and data protection. Regulatory requirements like SOX, HIPAA, and PCI-DSS are the rules that ensure companies are doing what it takes to guard sensitive information from unauthorized access. Businesses face legal and financial consequences for non-compliance, but perhaps the biggest risk of being out of compliance is loss of customer confidence – a major problem for any business’ bottom line.
Not all companies fall under all regulatory requirements. SOX (Sarbanes Oxley) only applies to publicly-traded companies, while HIPAA (Health Insurance Portability and Accountability Act) only affects businesses that deal with personal health information. However, almost every business must comply with the requirements of PCI-DSS (Payment Card Industry Data Security Standard)—rules put together by the credit card providers to govern data protection. PCI-DSS applies to any business that accepts, transmits, or stores credit card data – virtually every business that takes payments.
To read this article in full or to leave a comment, please click here Reported by PC World 9 hours ago.
Not all companies fall under all regulatory requirements. SOX (Sarbanes Oxley) only applies to publicly-traded companies, while HIPAA (Health Insurance Portability and Accountability Act) only affects businesses that deal with personal health information. However, almost every business must comply with the requirements of PCI-DSS (Payment Card Industry Data Security Standard)—rules put together by the credit card providers to govern data protection. PCI-DSS applies to any business that accepts, transmits, or stores credit card data – virtually every business that takes payments.
To read this article in full or to leave a comment, please click here Reported by PC World 9 hours ago.