#CybersecurityTip: Managed Service Providers (MSPs) serve a variety of clients in a variety of industries. As an MSP, it is important to know your network well in order to adhere to strict compliance regulations or face serious consequences, such as a data breach or an expensive fine. The emergence of industry specific compliance regulations followed suit after standards such as the National Institute of Standards and Technology (NIST) or the International Organization for Standardization (ISO). Data protection is a main concern today and often then not, many MSPs will have to comply with multiple regulations. Keep reading below for a list of common compliance frameworks MSPs need to be aware of.
Below are four common compliance frameworks your MSP should be aware of:
HIPAA - Healthcare
HIPAA law, along with the HITECH act, are actively being audited in health organizations to ensure compliance. This is critical for MSPs to adhere to who deal with this industry. Electronic versions of Protected Health Information (ePHI) must be controlled and authorized through regulations when is is in use or stored.
PCI-DSS – Retail/Consumer
Payment Card Industry (PCI) Data Security Standards (DSS) is a regulation that sets parameters for merchants to acquirer and protect card holder data. There are twelve domains of PCI DSS to cover a wide range of security requirements designed to protect the storage and destruction of card holder data.
Sarbanes Oxley Act (aka. SOX) - Finance
Sarbanes-Oxley (SOX), is an American government act from 2002 that applied to all financial organizations in order to identify internal controls on financial data and implement privileged access management on such records.
GDPR (EU) – General Data Protection
EU GDPR (General Data Protection Regulation) most recently came into play as a privacy regulation in the European Union. It draws attention to the collection of personal information and activities taking place on the internet and websites. We see this now being implemented in North America.
Each industry has its set of rules, laws, and regulations in regards to security and data protection in its field. Be sure you look to your official government website to provide this information specific to your MSP.