Compliance Regulations and the Future of Cybersecurity

Cyber Security

Compliance Regulations and the Future of Cybersecurity- Organizations can establish excellent cybersecurity plans by following compliance requirements, which set acceptable norms. The establishment and maintenance of information security programmes are based on a key tenet: compliance. Various policies have arisen throughout time to address growing security concerns.

Cyber actors are always developing new security hazards, malware, trojans, and programmes in order to compromise organisational security. Furthermore, new technologies have always come with new security vulnerabilities. Crypto-jacking assaults, for example, have increased as a result of the use of virtual currencies such as Bitcoins, Monero, Ethereum, and others, pushing out ransomware attacks, which have dominated for years.

As a result, it is critical for businesses to understand the present state and future of cybersecurity, as well as how to best protect themselves from new threats. The development of international and local regulatory agencies to produce security standards to enable corporations to tighten their security postures has been a significant response.

Regulations, standards, rules, and laws are all influenced by changing cybersecurity settings, which is a frequent characteristic of compliance. As a result, maintaining appropriate compliance postures is a difficulty for many firms.

Current Compliance Regulations

Organizations can use compliance rules to preserve their data and IT systems, as well as to resolve current privacy and security concerns. Furthermore, compliance rules ensure that businesses meet their responsibilities to prevent unintentional breaches and attacks caused by negligence or the installation of inadequate security procedures.

Most legislation require firms to secure their systems by installing a number of fundamental security measures such as firewalls, proper risk assessments, data encryption technology, and employee training on how to use and handle sensitive information securely.

Some regulations are optional, while others are required. As a result, businesses must demonstrate that they not only understand them, but also that they apply and maintain them properly. They should be able to show proof of compliance at any moment.

Benefits of Compliance Regulations

  • Business opportunities: Compliance requirements are designed to help businesses safeguard their systems and follow data-protection best practises. Customers are more likely to patronise businesses that follow all applicable laws.
  • Reduced risk: Companies can reduce cyber dangers by following the instructions and recommendations provided in compliance regulations, which have been tested and accepted internationally.
  • Avoiding fines and penalties: Most compliance regulations are required, and non-compliance carries serious consequences. Some, such as the GDPR, have the potential to fine businesses millions of dollars. Complying prevents a business from such fines, which is beneficial to its financial situation.
  • Compliance requirements ensure that all businesses follow the same set of norms. Compliance levels the playing field by allowing businesses to use the same security methods while still being assured of acceptable protection.
  • Compliance laws are developed to give organisations with cost-efficient yet effective security methods, resulting in increased efficiency and economies of scale. A firm may implement working security solutions at a fraction of the cost and have the same level of protection as a Fortune 100 company.

Existing Regulations and Requirements for Compliance

HIPAA

HIPAA (Health Insurance Portability and Accountability Act) is a federal law that governs the security of health information in businesses of all sizes. Organizations frequently gather and maintain employee health data, whereas healthcare institutions deal with patient data on a daily basis. Health information is extremely private and should not be shared with unauthorised parties. As a result, safeguarding measures must be put in place.

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The HIPAA compliance rule includes a series of requirements that each organisation must demonstrate complete comprehension of. HIPAA also mandates the implementation of training programmes to provide staff with security and awareness training. When personnel accesses information systems that contain sensitive health data, they are trained to be aware of their security responsibilities.

HIPAA also mandates businesses to design and maintain methods for detecting and preventing security breaches. In addition, in order to be HIPAA compliant, a firm must do risk analyses and assessments at all times in order to discover security vulnerabilities in their systems.

To ensure that information systems and infrastructures are no longer at danger, procedures for controlling and minimising identified risks should be implemented. Furthermore, HIPAA mandates that businesses adopt punishment plans for dealing with non-compliant employees.

FISMA

The Federal Information Systems Management Act (FISMA) was created to ensure that federal agencies’ information systems were safe. All partners or contractors who do business with government agencies are subject to the regulation.

The primary goal of the FISMA regulations is to allow federal entities to implement security awareness and training programmes. All users engaging with government information systems should be aware of the security principles and practises that must be followed, according to the training programmes. Personnel working for or with federal agencies, such as contractors, business partners, and others, are required to enrol in training sessions to grasp the underlying security rules and processes under FISMA.

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Anyone gaining access to information or federal information systems must demonstrate that they have finished the training course and completely comprehend the topic. Personnel must also be able to put their newly gained abilities into practise and competently use best practises to protect federal information.

PCI-DSS

The Payment Card Industry Data Security Standard (PCI-DSS) is a security standard for businesses that accept credit cards. The compliance standard lays out security criteria for organisations to follow in order to protect a customer’s financial information.

PCI-DSS is a security standard that applies to organisations that accept credit cards and need owners to enter sensitive information into online platforms such as eCommerce websites. As a result, there is always the possibility that cybercriminals would gain access to critical information by compromising such platforms. To protect such customer information, PCI-DSS-compliant firms must implement all of the specified security procedures.

Installing and configuring firewalls to ensure a firm secures the cardholder’s data and information is one of the standard’s requirements. PCI-DSS also instructs an organisation on how to reset vendor-supplied systems’ default security parameters and system passwords. This is to guarantee that new passwords are difficult to crack and that security parameters are set to match the organization’s security requirements.

Additionally, the PCI-DSS legislation requires firms to employ security procedures for encrypting card information transmitted over public and unsecured networks. Other criteria include implementing access control measures to prevent unwanted access to card data and assessing the security of systems and processes on a regular basis.

GDPR

Since its implementation in 2018, the General Data Protection Regulation (GDPR) has gained enormous popularity. Organizations must adopt adequate security methods for securing personally identifiable information belonging to persons from European Union zones, according to the rule.

As long as they handle and process data belonging to an EU individual, the GDPR provisions apply to all companies in the globe. Many firms have been forced to comply with the legislation in order to escape the large fines that come with non-compliance. A corporation can also be punished if inadequate security practises result in a data breach that results in the loss or disclosure of personally identifiable information. Due to its usage of user data to sell adverts, Google was fined €44 million.

Companies must notify data owners if they intend to use their data for any reason under GDPR. Or face hefty fines, an organisation must seek the explicit agreement of the data owner. GDPR also urges organisations to adopt and maintain data security systems. Encryption, password protection, and access control are just a few examples. Other measures in the legislation are designed to improve data security.

NIST 800-53

The NIST publication 800-53 (National Institute of Standards and Technology) offers federal agencies with standards for safeguarding their information systems. The same recommendations are also used by private sector organisations to strengthen their cyber defences. The NIST 800-53 framework provides principles that federal agencies and contractors can use to ensure that they are in compliance with FISMA laws.

The guidelines include a number of measures that can assist in the development of safe information systems that are resistant to cyber-attacks. Management, technological, and operational safeguards are among the proposed methods, which, if applied, can ensure the availability, confidentiality, and integrity of information and information management systems.

NIST 800-53 also includes security guidelines based on the concept of a security control baseline. The notion refers to identifying controls that meet an organization’s security requirements. The baselines provide factors such as functional and operational demands, as well as typical threats to organisational information systems, to federal agencies and commercial businesses.

The NIST rule also mentions a tailoring procedure that an organisation can utilise to find the controls that provide security based on their information system’s requirements. Access control, awareness and training, audit and accountability, configuration management, contingency planning, incident response, personnel security, identification and authentication, and system and communications protection are some of the security controls recommended in the compliance regulation.

Balancing Compliance Regulations and Cybersecurity

Compliance requirements are crucial in promoting cybersecurity. Many firms, as evidenced by the recent implementation of GDPR (General Data Protection Rule), have focused their resources and effort on complying with the regulation rather than on proper security principles. Worse, most restrictions soon become obsolete, implying that businesses would always struggle to comply with new norms and requirements.

It’s also worth remembering that fraudsters have access to the rules. They will always find a way to go past them in order to circumvent the security standards in the recommendations. In other words, instead of focusing on fool-proof cyber protections, businesses waste money, human resources, and time complying with standards that have inherent flaws.

But how might such concerns in compliance regulations be addressed? Businesses, on the other hand, are responsible for investing in the most up-to-date defensive measures in order to combat new threats and attacks. Maintaining several regulations in order to stay compliant while ignoring cybersecurity defence might be dangerous to their security. Companies should invest in technologies that can fulfil both goals in order to balance the two domains of legislation and security.

Artificial intelligence is a great example of a method that can be used to solve this problem. AI systems are frequently employed to comprehend large amounts of data, such as those found in many regulatory compliances. This technology, depending on a company’s security needs, can ensure that it is always compliant with present and new regulations. Simultaneously, AI has proven to be effective in the development of cybersecurity products such as antivirus software, intelligent firewalls, and intrusion prevention and detection systems. AI not only allows a corporation to kill two birds with one stone, but it also helps them solve other problems. Reduce the cost and labour required to achieve full compliance and robust cybersecurity, for example.

Cybersecurity in the Future

Recent cyberattacks have resulted in extensive destruction and large-scale disasters. WannaCry, one of the most major ransomware attacks to date, struck a number of nations throughout the world in 2017. The attack paralysed healthcare services across major healthcare facilities for nearly a week, affecting the United Kingdom’s National Health Service the most. In the same time frame, the NotPetya ransomware outbreak occurred. The attack targeted Ukrainian electricity and energy firms, as well as Russian oil companies, resulting in massive losses and damages.

Such attacks highlight the importance of scholars and governments working together to develop stronger defensive techniques in order to stay ahead of the game. Despite the fact that much is being done to provide effective countermeasures to rampant cybercrime, the cyber threat landscape will continue to evolve as new technologies emerge. These will be used to combat cybercrime as well as generate more sophisticated attack methods.

The arrival of the 5G network

A large number of countries are planning to implement 5G network connection and infrastructure convergence. South Korea, China, and the United States are at the top of the list. Huawei has already introduced 5G-capable smart TVs in Chinese markets. While the new network has many advantages, the most of which are based on its super-fast speed, 5G networks are expected to face the most cybersecurity issues. 5G networks are expected to link billions of new gadgets every year in the future, in addition to providing faster internet speeds.

The gadgets will use the internet to run vital infrastructure and apps at speeds at least 1000 times faster than currently available internet speeds.

New architectures will arise as a result, and they will be utilised to connect entire geographic places and communities, industries, and essential infrastructures. Simultaneously, 5G networks will drastically transform cyber threat landscapes. The majority of today’s attacks are financially driven, although they do not result in real or physical damage to infrastructure or sites.

Cyber-attacks on 5G networks could result in catastrophic physical destruction, destabilising a country’s economy or causing needless deaths. Worse, such assaults will be carried out at the same lightning-fast 5G speeds, making it nearly difficult to identify and prevent them before they happen.

Furthermore, cyber attackers will be able to uncover weaknesses in 5G networks and exploit them in real time to launch attacks. Despite the fact that the approaches are similar to those currently in use, the fundamental distinction is that the entire enterprise, vital infrastructures such as road networks for autonomous and self-driving vehicles, and other infrastructures required to run a smart city will all be connected. It’s impossible to conceive the devastation that such strikes would cause if they were successful. Several examples of similar attacks are now taking place.

In 2016, the Department of Homeland Security, for example, hacked into the electronics of a Boeing 787 passenger plane. The jet was parked in Atlantic City, and the hack was carried out remotely, with no assistance from insiders. In addition, a ransomware attack on the City of Baltimore rendered nearly 10,000 employees unable to access their computers. [3] Such attacks may not have resulted in any damage to the victims. That would not be the case if 10000 self-driving cars were barred from accessing vital infrastructure systems. They would be unable to communicate with one another or access navigational devices, resulting in major traffic jams or accidents.

5G networks will enable the development of smart cities and infrastructures in the future. These will lead to the establishment of interconnected essential systems on a massive scale, including automated waste and water systems, driverless vehicles that rely on intelligent transportation networks, automated emergency services, and personnel. They’ll all be reliant on one another.

These 5G-enabled solutions will be extremely connected, but they will also be extremely susceptible. During the WannaCry ransomware assault in 2017, it took several days for the virus to spread internationally. Such networks will be able to proliferate at the speed of light thanks to 5G networks. 5G networks will improve the world in many ways, but they may also propel cybercrime into real-life scenarios, with unknown implications.

Artificial Intelligence

The need of creating real-time detection and prevention techniques cannot be overstated, especially with the advent of 5G networks. Artificial intelligence technologies provide critical components for the globe to achieve worldwide immunity and security in the face of cyber-attacks. Artificial intelligence is already being used to design and innovate cybersecurity solutions that can work at a speed and scale that will ensure future digital prosperity. AI-powered security solutions will be used to achieve top-notch efficiencies in detecting and responding to cyber-attacks, provide real-time cyber threat mitigation measures and instant situational awareness, and automate risk assessments, threat detection, and mitigation processes, among other things.

However, according to numerous stories today, cybercriminals are seizing and exploiting artificial intelligence security solutions as soon as they are established. This adds to the difficulty of establishing practical solutions to global cyber threat scenarios. Cyber criminals who use artificial intelligence to commit various crimes may be able to defeat industrial technical protections that have been in place for decades. Criminals may soon develop intelligent malware programmes capable of capturing and abusing voice synthesis systems in the financial industry, for example. This will allow thieves to imitate human behaviour captured in biometric data, bypassing the authentication systems in place to secure individual bank accounts.

Furthermore, the use of artificial intelligence for criminal purposes will almost certainly result in the formation of new cyber-attacks and attack cycles. Malicious actors will target and deploy such breaches where they will have the greatest impact, and they will do so in ways that industries on both sides of the divide never imagined conceivable. Artificially intelligent attacks could be employed in biotech sectors to steal or change DNA coding, to name a few examples. They could also be used to disrupt the mobility of autonomous vehicles, as well as in healthcare systems, where smart ransomware programmes will be timed to attack when systems are most vulnerable, causing the greatest damage.

Biometric Security

Biometrics will most certainly become one of the most widely employed security measures in the fight against growing cybersecurity trends. Biometrics are currently utilised to secure electronics such as computers and smartphones, as well as for physical security, where iris and fingerprint scans are used to secure critical and classified places.

Biometrics will be used to construct next-generation authentication techniques in the future. Adopting such measures will entail the collection of massive amounts of data about people and their activities. Biometrics will contain other details such as body movement and walking styles, as fingerprint, iris scans, and voice recognition security will be insufficient. However, fraudsters will turn their attention to new generation biometrics data as a result of this. Rather of focusing on personally identifiable information such as contact information, social security numbers, or official names, assaults will target data utilised in biometrics security.

So, what’s next? New Compliance Regulations and Measures

So, what’s the big question for cybersecurity in the future? To begin, it’s important to remember that cybercriminals have been carrying out low-risk assaults with large rewards and little or no attribution. As a result, most businesses have relied on traditional approaches because they have delivered practical solutions so far. Emerging and transformational technologies will drastically alter cyber threat landscapes in the next years.

To better safeguard against the predicted growth of new generation cyber-attacks and dangers, we must first comprehend the extent to which cyber landscapes will alter and risk environments will transform. Only via constant investigation for evidence-based outcomes can such an urgent and critical analysis be completed. Security specialists, academic heavyweights, and policymakers all have skills that will be crucial in devising unique methods to combat future cybercrime.

As a result of the shifting cybersecurity landscape, new compliance standards will be required. At the same time, as a result of new rules and regulations, as well as user demands and public opinion, the obligation for compliance will expand. The integration of the new needs into business operations, including communications, people, tools, and infrastructure, will continue to be a problem for organisations.

Jennifer Thomas
Jennifer Thomas is the Co-founder and Chief Business Development Officer at Cybers Guards. Prior to that, She was responsible for leading its Cyber Security Practice and Cyber Security Operations Center, which provided managed security services.