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While many businesses focus on marketing and growing sales, you have to keep in mind that that’s only one part of creating a successful business. For example. Does reputation actually matter for a business? Well, of course, it does. While at one point in time, you’d think about customer service and general security, nowadays, there’s the need to protect customer data (especially important information that shouldn’t even be out there, like SSNs and credit card numbers). It’s scary to think, but this is only going to put people more at risk, no matter what new security measures come out.
Overall, it’s just something that no business (regardless of industry) can skip out on. Seriously, it can’t be taken lightly—especially with all the new regulations coming into play. Cybersecurity standards are ever-changing, and so is the increasing pressure to stay compliant. Plus, there isn’t a choice to not be compliant either (legal troubles, and so on).
So, why exactly do cybersecurity and compliance go hand in hand? Well, let’s just go ahead break it down.
The Rising Demand for Cybersecurity Compliance
Over the past few years, the demand for strict cybersecurity regulations has skyrocketed (understandably so). So, with high-profile data breaches making headlines, it really isn’t a surprise that regulators are stepping in to hold companies accountable. But the challenge for businesses is keeping up with all these evolving requirements while still maintaining effective security measures. Now, at one point in time, cybersecurity compliance was a “nice to have”, but nowadays, it’s a necessity.
What Can You Expect with Lack of Compliance?
It was briefly mentioned in the intro, but falling short can lead to hefty fines, legal troubles, and damage to your reputation. It might not sound like such a big deal, and for large businesses, it’s a dent, but for smaller ones (or all industries), it’s a death sentence.
Overall, the stakes are high, and companies need to ensure their cybersecurity practices are aligned with regulations such as GDPR, CCPA, or even industry-specific rules.
Data Protection is at the Heart
Well, at the core of most cybersecurity regulations is data protection like customer details, financial information, or trade secrets—overall, there is data that’s in need of some protection. So, gone are the days when installing antivirus software was enough to keep businesses safe. For example, companies that rely on Wi-Fi networks need to secure their connections properly. This means understanding what is SSID, the name of a wireless network, and ensuring that it's set up with proper encryption.
It’s not something that should be DIYed either, but actual professionals need to come in and take a look at all of this. But overall, little things like securing your SSID are just one piece of the puzzle in staying compliant and protecting sensitive data.
The Financial Risks of Non-Compliance
You also have to keep in mind that cyberattacks can also lead to downtime, and as you can already guess that means it disrupts operations and results in lost revenue. And let’s face it, dealing with the fallout of a breach is much more costly than investing in compliant cybersecurity practices from the get-go.
But at the same time on the flip side, being proactive with security can be a huge competitive advantage, showing customers that their data is in safe hands.
It’s All About Continuous Monitoring
One of the trickiest parts of cybersecurity compliance is that it’s never really “done.” Cyber threats are constantly evolving, and new regulations keep coming into effect. Essentially, you’re forever on your toes.
How Artfundi Protects You
As an Artfundi customer, you get Cybersecurity built-in.
We protect our technology with the latest and best cybersecurity practices, including automated password encryption, server firewalls, DDOS protection through Cloudflare. As part of our ISO27001 and GDPR compliance, we protect client data through policies and practices like encryption, data backups, data security classification, data scrubbing, and many more. We also utilise SSID and password best practices. All our staff are trained in cybersecurity and phishing awareness.
In addition to data security, Artfundi provides physical security for valuable art assets.
Contact us to find out more about Artfundi Safeguard for your business.
