No SOX please, we're non-compliant
by David Quainton Sep-27-05
Companies will fail SOX audits in 2006, according to their IT departments.
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Compliance
A jumble of acronyms that stand for an overwhelming number of federal mandates have marched right to the fronts of most leading security professionals' minds. SOX, GLBA, HIPAA and FISMA are requiring CSOs and their companies to meet various and sundry security requirements that sometimes mirror one another and sometimes don't. Auditors looking to check off a box want to make sure these are met.
On top of Sarbanes-Oxley demands for publicly-traded companies (SOX), Gramm-Leach-Bliley Act requirements for financial organizations (GLBA), and the Health Insurance Portability and Accountability Act mandates and Federal Information for healthcare organizations (HIPAA), other legislation is looming large. Industry experts foresee the approval of a federal identity theft bill akin to California's SB1386 as inevitable. Just what IT security standards such a law will require companies to adhere to is still questionable.
Taking a holistic approach to security requirements put forth in both federal and state legislation is key to avoiding a duplication of efforts and strong security plans. Failing this, organisations and their corporate leaders could expose themselves to failed audits, large fines, loss of investor/customer confidence, compromised data or even jail time. Too much is at risk not to seek out insight from experts and the latest news here.
Latest News
More spyware used in identity theft
by René Millman Sep-15-05
Spyware is increasingly being used by criminals to sniff out user passwords and log keystrokes, according to new research.
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CardSystems submits PCI compliance report
by Marcia Savage Sep-08-05
Credit card processing company CardSystems is banking on an independent assessment validating its compliance with the Payment Card Industry (PCI) data security standard to convince former clients to take it back, but so far none are biting.
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