Businessman walking tightrope regulatory compliance

Tips on Meeting and Maintaining Regulatory Compliance

As you may very well already know, regulatory compliance is the practice of staying within the guidelines and restrictions of state and federally mandated rules. Three of the main categories are HIPAA, SOX, and PCI DSS. Your company may only be required to stay within regulatory compliance of only one, but some must adhere to two, or even all three! Even staying compliant in one category can be difficult, so here are a few tips for “keeping your nose clean” in each category.

 

Staying Within HIPAA Regulatory Compliance.

 

Always remember: HIPAA law states very clearly that every single organization who comes into contact with anyone’s medical records for any reason must abide by the rules and regulations of HIPAA law. So basically, if your company has anything to do with medical records, you’re under HIPAA. One great idea for ensuring you stay within HIPAA regulatory compliance is to ramp up your network security and significantly increase accountability. In other words: make it next to impossible for a data breach, and if anyone within your organization tries to access any medical records, you need an electronic log of when, who, and if possible, why. Sometimes, staying compliant means making access to medical files a little harder for legitimate inquiries. But that’s okay because that also means it’s making access to medical records a lot harder for illegitimate inquiries.

 

Staying Within SOX Regulatory Compliance.

 

SOX Compliance is one of the few regulatory compliance categories that deals more with safeguarding data on a mostly internal level, rather than protecting against external breaches. In essence, SOX is there to keep your organization’s books and numbers honest. Lots of corporations have gone completely down the drain while sending thousands to personal bankruptcy, thanks to a few high-level executives who decided they’d “cook their books” and either make their company look like they were profitable when they weren’t, or skimming several million bucks out of the company for themselves. Just like with HIPAA, the best method for fighting non-compliance of SOX is accountability, accountability, accountability. When financial numbers change, it shouldn’t go unnoticed or unjustified. Systems need to be in place which requires justification, documentation, even prior approval to making any adjustments. The more “big brother is watching,” the less likely people are to attempt accounting fraud.

 

Staying Within PCI DSS Regulatory Compliance.

 

If you sell, rent, or lease anything, this is probably for you. PCI DSS regulatory compliance is in place to safeguard peoples’ financial and credit information. Any transaction or storage of financial data your company performs falls under the PCI DSS umbrella. A great safeguard here is encryption. Even if someone who’s not supposed to have access to your customers’ financial data finds a way to do so, in essence, what they should see is: XvQ5 $3@% GbYH c#0Q. In other words – completely garbled data. Even with a data breach, if your network attackers can’t decipher the data, it’s useless to them – and it’s all thanks to your extra efforts to keep your company within PCI DSS regulatory compliance. Pat yourself on the back.

 

Troinet Has Solutions for All Aspects of Regulatory Compliance.

 

Violations of regulatory compliance can be a horribly scary thing: fees, fines, loss of licenses and business permits, jail time . . .  It can be terrifying. Take a breath. We’re here for you. Troinet has a staff of experts who can customize iron-clad solutions for your specific needs to keep you and your organization compliant. If you’re even slightly concerned about falling out of compliance, trust us – we need to talk.