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Regulations and Compliance
See how risk-based Managed Detection & Response can help you with compliance — regardless of your industry
NYDFS Security Regulation FAQ
A CONVERSATION WITH RON PELLETIER, FOUNDER and CHIEF CUSTOMER OFFICER, PONDURANCE, AND RICHARD BORDEN, COUNSEL, WILLKIE FARR & GALLAGHER LLP
With a flurry of new regulations and requirements announced by the New York Department of Financial Services (NYDFS) and SEC, make sure you are up to date on the latest in order to ensure your organization is meeting all the new requirements.
Join Ron Pelletier and Richard Borden to learn:
- The cyber regulation standards and if there are any commonalities
- What you need to do to meet SEC requirements
- The difference between privacy regulations and information security regulations
- What are the Department of Labor (DOL) guidelines, and how does it apply to cybersecurity
- How a cybersecurity provider can help you meet new security regulations
Watch a clip of the conversation or find the full FAQ here.
Insurance and Legal Partners
Pondurance works with legal and insurance firms, brokers and agents to help their clients improve their cybersecurity posture and reduce cybersecurity risks.
Reach out to us to learn more partners@pondurance.com
If you suspect you have an active breach, please contact us at 888-385-1720.
Keep Up With the Latest Blogs on Compliance and Regulations
Webinar
Reducing the Costs To Comply With CMMC
Join Doug Howard, CEO of Pondurance, and Yong-Gon Chon, Treasurer of the Board of Directors at CMMC-AB, to get tips on reducing costs when preparing and applying for CMMC 2.0 and hear them share and address the top questions.
Successfully Navigating Through CMMC: What You Need to Know
Cybersecurity Maturity Model Certification (CMMC) is a unified assessment model released by the Department of Defense in response to the growing threat of cyberattacks and data theft from its supply chain vendors. Join us as we discuss CMMC in a panel webinar with Doug Howard, CEO of Pondurance, and Evan Wolff, a partner at Crowell & Moring LLP
Achieving CMMC 2.0 Compliance
Are you processing controlled unclassified information for Department of Defense clients and required to meet Defense Federal Acquisition Regulation Supplement requirements? Pondurance is here to help you achieve CMMC 2.0 compliance and better understand the gaps in your processes, capabilities, and practices.
Are You Looking for Specfic HIPAA Regulations?
Additional Resources
PCI DSS Compliance Made Simple by Pondurance
As part of Pondurance’s cyber risk and regulatory compliance assessment services, we offer a focused review of your IT systems environment to identify areas of risk and maturity as they relate to Payment Card Industry Data Security Standard (PCI DSS) compliance. READ HERE
PCI DSS
PCI DSS, stands for Payment Card Industry Data Security Standard, and PCI DSS meaning
is: a comprehensive set of security standards designed to ensure the safe handling and processing of sensitive payment card information. This essential framework not only protects consumers from financial fraud but also allows businesses to maintain trust with their customers.
The payment card industry PCI DSS emerged in 2004 when the leading payment card brands like Visa, MasterCard, American Express, Discover and JCB International joined forces to establish the PCI Security Standards Council (PCI SSC). This global organization was formed with an aim to provide a unified set of security requirements that merchants, financial institutions, point-of-sale vendors, and technology developers must adhere to when dealing with payment card data.
Over the years, the PCI standards have adapted and evolved in response to changes in technology and threats faced by the industry. For example, an early iteration of the standard focused heavily on securing physical access points where cardholder data was stored or processed. As online transactions became increasingly common and digital threats grew more sophisticated, newer versions of the standard expanded to address network security issues as well.
The core principles of PCI DSS can be summarized into six main objectives: building and maintaining a secure network; protecting cardholder data; maintaining a vulnerability management program; implementing strong access control measures; regularly monitoring and testing networks; and maintaining an information security policy. Additionally, organizations that store or process large volumes of payment card data must undergo third-party assessments from independent organizations like Pondurance. These assessments ensure that they are complying with PCI DSS requirements while also identifying potential vulnerabilities in their systems.
In conclusion, understanding the meaning and history behind PCI DSS is vital for every organization involved in handling payment card data. With its origins rooted in collaborative efforts between major credit card brands that recognized a need for standardized protection measures within their industry, today’s PCI standards overview focuses on safeguarding sensitive financial information from both physical and digital threats. The involvement of third-party assessment organizations like Pondurance helps maintain the integrity of these standards, ensuring that businesses remain compliant and consumers can trust their payment information is secure.
What is PCI DSS in Cybersecurity
In the realm of cyber security, PCI DSS stands for Payment Card Industry Data Security Standard. This set of comprehensive requirements was established by major payment card brands, including Visa, MasterCard, American Express, Discover, and JCB International. The primary purpose of PCI DSS is to ensure the secure storage, transmission, and processing of cardholder data by organizations that handle such sensitive information.
The origins of PCI DSS date back to the early 2000s when each payment card brand had its own set of security standards. In 2004, these brands came together to form the Payment Card Industry Security Standards Council (PCI SSC), which then introduced a unified framework known as the PCI DSS. This collaborative effort aimed at streamlining the process for merchants and service providers while bolstering the overall security of cardholder data.
To achieve a robust cybersecurity practice that effectively protects personal financial data, organizations must adhere to the various guidelines provided by frameworks such as PCI DSS and NIST (National Institute of Standards and Technology). Mapping PCI DSS to the NIST cybersecurity framework allows for greater understanding and implementation of best practices in managing cybersecurity risk.
PCI DSS compliance in Cyber Security entails meeting and maintaining specific requirements outlined within its 12 core sections. These cover areas like firewall configurations, data encryption during transmission, access control measures, vulnerability management programs, regular testing of security systems, and incident response plans.
Third-party assessments from organizations like Pondurance play a critical role in ensuring compliance with PCI DSS standards. Through expert evaluation and guidance on implementing effective controls for securing cardholder data environment (CDE), businesses can better protect their customers’ sensitive financial information from potential threats.
As part of an overall cybersecurity practice, adhering to the PCI DSS framework demonstrates a commitment to maintaining high levels of security across all aspects of handling cardholder data. In turn, this fosters trust among consumers who rely on these businesses for managing their financial transactions.
In conclusion, PCI DSS is a crucial component in the realm of cyber security, serving to safeguard personal financial data and reduce the risk of data breaches. By mapping PCI DSS to the NIST cybersecurity framework and seeking guidance from third-party assessors like Pondurance, organizations can attain a comprehensive understanding of the necessary steps to achieve compliance and ultimately protect their customers’ sensitive information.
What is PCI DSS Compliance
PCI DSS compliance, or Payment Card Industry Data Security Standard compliance, is a crucial framework that all businesses dealing with payment card transactions must adhere to. This set of security standards has a rich history dating back to the early 2000s when major card brands such as Visa, Mastercard, American Express, Discover, and JCB collaborated to form the PCI Security Standards Council. The main purpose of this council was to establish guidelines for maintaining and enhancing payment card security. And thus, PCI DSS was born.
The essence of PCI DSS lies in its 12 requirements which are designed to protect consumer data and prevent fraud during payment card transactions. These requirements encompass various aspects of an organization’s operations, such as building and maintaining a secure network with firewalls and encryption measures; protecting cardholder data through storage policies and access control; regular testing of security systems; and establishing information security policies.
To fully grasp how to implement the PCI DSS compliance framework, many organizations turn to third-party experts like Pondurance who specialize in helping develop comprehensive programs for client companies. These programs not only ensure adherence to PCI DSS requirements but also help organizations maintain their compliance over time by identifying any vulnerabilities or potential threats in their systems.
A PCI DSS requirements checklist can be invaluable for organizations looking to ensure they meet the necessary standards. It provides a clear roadmap for implementing each requirement while enabling the organization’s management team to track progress efficiently. Engaging third-party assessors like Pondurance also introduces an objective perspective on an organization’s security posture and guides them towards adopting best practices in line with industry standards.
In today’s digital age, where cyberattacks are becoming increasingly sophisticated, the importance of PCI DSS compliance cannot be overstated. Adhering to these regulations not only helps safeguard sensitive customer data but also protects organizations from expensive penalties that can result from non-compliance. By partnering with third-party experts who possess extensive knowledge of payment card security, businesses can ensure they remain compliant and continue delivering a secure environment for their customers. In essence, PCI DSS compliance is not just a regulatory obligation but also an essential aspect of maintaining trust with consumers and safeguarding the reputation of organizations worldwide.
Cybersecurity Frameworks List
Cybersecurity frameworks provide structured methodologies for organizations to manage and mitigate various risks related to information technology. These frameworks often play a crucial role in ensuring the protection of sensitive data, compliance with regulatory requirements, and overall IT security.
A comprehensive list of cybersecurity frameworks would include several well-known standards that cater to different industries and types of organizations. One of the most widely adopted IT compliance frameworks is the Payment Card Industry Data Security Standard (PCI DSS).
This standard provides a set of guidelines for businesses that handle cardholder information from major credit card providers. PCI DSS compliance helps ensure the secure transmission, storage, and processing of payment data, minimizing the risk of financial fraud and data breaches.
Another prominent example is the Health Insurance Portability and Accountability Act (HIPAA) which addresses cybersecurity and privacy compliance risks in healthcare organizations. It outlines rules and regulations for handling protected health information (PHI), and safeguarding patient data from unauthorized access or disclosure.
HIPAA cybersecurity compliance is an essential consideration for any entity dealing with sensitive medical records or personal health details. HIPAA cybersecurity and privacy compliance risks can be important considerations.
Financial institutions operating in New York State need to adhere to the NYDFS Cybersecurity Regulation (23 NYCRR Part 500). Compliance with this regulation requires submission of an annual NYDFS cybersecurity certificate of compliance, which demonstrates adherence to specific security measures designed to protect consumers’ confidential information from cyber threats.
The U.S. Securities and Exchange Commission (SEC) also enforces requirements related to SEC cybersecurity compliance. Financial firms regulated by the SEC must establish robust cybersecurity policies and procedures geared toward protecting investor information from unauthorized access or misuse.
Another notable framework is the NIST Cybersecurity Framework, developed by the National Institute of Standards and Technology as a voluntary guide for organizations seeking a more structured approach to managing cyber risks. While not explicitly mandated, many entities choose to adopt NIST Cybersecurity Framework compliance practices due to its flexibility, comprehensiveness, and alignment with other industry standards.
Organizations often must adopt appropriate cybersecurity frameworks to protect sensitive information, adhere to regulatory requirements, and maintain a robust security posture. This list of frameworks, including PCI DSS, HIPAA, NYDFS Cybersecurity Regulation, SEC regulations, and NIST Cybersecurity Framework can act as a starting point for businesses seeking guidance in navigating the complex world of information security compliance.
PCI DSS Asssessment
In the realm of cybersecurity and data protection, PCI DSS Assessment stands as a crucial component to ensure the safety of cardholder information. The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to protect sensitive payment card information from potential threats and vulnerabilities. Developed by major card brands such as Visa, Mastercard, and American Express, this standard has gained significant importance in maintaining robust data security across various industries.
One key aspect of PCI DSS compliance is the need for third-party assessments from organizations such as Pondurance. These assessments help businesses identify potential gaps in their security posture and implement necessary measures to safeguard critical data. The process for evaluating your PCI DSS compliance includes several steps that align with the services provided by Pondurance.
The first step in PCI DSS assessment involves understanding your organization’s classification level within the standard’s guidelines. This classification determines which specific Self Assessment Questionnaire (SAQ) applies to your business. SAQs are essential tools that help organizations assess their compliance with PCI DSS requirements independently.
Next, depending on your organization’s size and transaction volumes, you may be required to conduct a Report on Compliance (ROC). ROC is an extensive assessment done by a Qualified Security Assessor (QSA) that verifies your organization’s adherence to all applicable PCI DSS requirements. Companies like Pondurance can assist you in navigating through this complex process with their expertise in cybersecurity assessments and remediation.
Upon successful completion of the SAQ or ROC, organizations must submit an Attestation of Compliance (AoC). The AoC serves as evidence that you have adequately addressed all necessary requirements outlined in the applicable SAQ or ROC. Pondurance can provide guidance during this phase by ensuring accurate documentation and proper submission processes.
In summary, aligning with experienced partners like Pondurance can significantly streamline your journey towards achieving PCI DSS compliance. Their comprehensive approach toward evaluating your unique needs and providing tailored solutions ensures that your organization maintains a robust security posture. By leveraging their expertise, you can protect sensitive payment card information and achieve the highest level of data protection, resulting in increased customer trust and business growth.
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