The digital transformation era has brought boundless opportunities for innovation for defenders and attackers. The steady rise in the volume of ongoing threats, incorporated with increased attention and progress with regulations across the technology spectrum, has highlighted the need for organizations to pay extra attention to their IT security compliance efforts.
From acts of nature and ransomware attacks to social engineering and phishing, these threats can derail a business’s operational capacity and create substantial financial losses. The damage from SEC investigations or other reputation-damaging events can cause an increased loss in consumer confidence after an attack or breach.
For insights on ensuring that your organization is appropriately positioned to weather an adverse event and your IT security compliance program is robust, we consulted our expert partner at 11:11 Systems. With expertise in risk management, cyber resilience, security, data protection and compliance, 11:11 Systems supports businesses through regulatory compliance’s complexities, ensuring adherence and true operational resilience in the digital age.
Cyberattacks Continue to Rise
The statistics paint a bleak picture when trying to understand the breadth of the current cybersecurity landscape and the need for more vigorous IT security compliance.
- From 2013 to 2020, attacks on organizations in critical infrastructure sectors rose from less than 10 to almost 400, an increase of 3,900%.
- In 2023, intrusions into cloud environments—an industry predicted to eclipse $1 trillion in spending this decade—jumped by 75%.
- Gartner believes that by 2027, 17% of cyber attacks will involve generative AI.
These numbers are alarming, and the economic repercussions are vast. According to IBM’s annual Cost of a Data Breach report, the global average data breach cost in 2024 will be $4.88 million, a 10% increase over last year and the highest total ever.
For perspective, if cybercrime were measured as a country, it would be the world’s third-largest economy after the US and China.
Of these attacks, phishing continues to be the most prevalent. Millions of phishing emails are sent to the world daily, and cybercriminals bank on at least some percentage, penetrating an organization’s IT security compliance.
While the initial focus of a security event is often on the hard costs a successful cyber-attack response and recovery effort will require, reputational damage and legal repercussions may be just as impactful.
Unfortunately, no company is immune, regardless of the size or sector.
“Compliance isn’t just about avoiding penalties—it’s about safeguarding your business, earning trust, and building resilience in an ever-evolving digital landscape.”
Understanding the Regulatory Landscape
IT security compliance, cybersecurity posture, and data protection measures are crucial parts of business strategy, not just IT concerns. Businesses need a robust approach to their technology program that combines regulatory requirements with effective cybersecurity and data recovery practices.
Following regulations isn’t just about avoiding fines, it’s about protecting your business, maintaining customer trust, and maintaining a good reputation. Avoiding or outright disregarding the need to meet regulatory requirements can lead to significant financial losses, legal trouble and harm to your brand.
Regulations require businesses to invest in and prove their approach to cybersecurity, staff training, and ongoing event monitoring.
As the regulatory landscape continues to evolve, organizations are expected to be able to react quickly. Key updates to regulations and guiding standards will include GDPR, NIS 2, and the Digital Operational Resilience Act (DORA) in Europe, HIPAA, SOX, and new rules from the Securities and Exchange Commission in the U.S. Plus, AI will significantly reshape regulatory requirements in 2025 and beyond as governance becomes a critical focus for organizations worldwide.
Building Your Operational Resilience for IT Security Compliance
Between increasing threats and more comprehensive regulations, organizations are under more pressure than ever to enact comprehensive cybersecurity strategies and IT security compliance policies. This means taking proactive measures to prevent disruptions and creating reactive plans to respond quickly and recover fully if a successful event or attack should occur.
Best practices when looking to create or improve comprehensive cybersecurity and IT compliance program strategies should involve:
#1. Risk Assessments
Risk assessments are critical for pinpointing vulnerabilities in your network and systems. They should be completed in accordance with the necessary regulations and standards, such as HIPAA, GDPR, DORA and any required by local regulatory bodies. Understanding the requirements of each regulation and its potential impacts on assessment findings will help you prioritize any gaps in your existing capabilities.
#2. Layered Defense Strategy
The best cybersecurity strategies involve a multi-layered approach. These layers include endpoint detection and response software, edge and application firewalls, identity management, and more. A critical piece of your defense strategy should focus on employee education and awareness. Being aware of their role in the organization’s risk and protection strategy can help reduce the inevitability of this largest risk factor. Security training needs to be ongoing, with regular refreshers for everyone even the C-suite and executive leadership.
#3. Incident Response Plan
An incident response plan is essential for your cybersecurity strategy, giving your team or third parties structure when reacting quickly and effectively to cyber events. This fast response time helps reduce damage, speeds up recovery and protects critical data. Without a plan, your business could lose more revenue in operational downtime, face legal issues from customers or regulators and harm its reputation. Incident response plans help ensure your team knows what to do and by who, keeping operations as steady as possible during a crisis.
#4. Data Backups and Recovery
Ransomware, malware, and other malicious tactics are designed to target your company’s data. Having reliable backups reduces the operational impact of imprisoned data and could change the conversation or negotiations if being held ransom.
Backup data and configurations regularly using a modern solution and test your recovery processes often (at least twice a year). While testing, coordinate and practice with your cyber incident response processes. The worst time to find out that your processes need to be updated (or gaps in your recovery efforts) is when you are responding to an actual event. Unfortunately, this is when most companies will learn this tough (and costly) lesson.
#5. Ongoing Tool Validation
Taking your security tools for granted is a dangerous game. Continuously testing and validating your toolsets is an essential but often overlooked part of cybersecurity strategy.
Tool validation can help catch misconfigurations early, find weak spots within your environment’s interrelated operations, and give your team visibility. Regular testing lets you spot and fix problems before attackers exploit them. It’s also suggested that you regularly map and test your environment’s external connections to stay ahead of new and advanced threats.
Be Proactive with Your IT Security Compliance
The rise in cyber threats and the evolving regulatory landscape have made it clear that robust cybersecurity and IT security strategies are essential for every organization. The goal is to prevent cyberattacks and ensure your company is prepared to respond effectively, safeguarding your operations and reputation.
The compliance and threat landscape gets more complicated by the day. Let the Bridgepointe team be your guide.
With over 20 years of experience helping our clients protect their infrastructure and data, we’ll help you develop a strategy focused on the people, processes, and solutions you need to defend your organization.