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It is only in the past five years that digital has started to become more regulated , and with this has come a range of compliance legislation that businesses need to come to grips with . For many businesses , this has involved a significant transition , as it has always been unclear as to whose responsibility data is . Is it HR ’ s problem to safeguard , and is financial data the sole responsibility of the finance team ?
The reality is that all data touches every part of modern business , and cybersecurity needs to be a top priority as part of an overall compliance strategy . The security of information is a business imperative , and it has become essential to apply compliance logic to the management of data as part of comprehensive cybersecurity .
Compliance logic refers to the set of rules , procedures , and controls that organisations put into place to ensure they adhere to laws , regulations , and standards , as well as internal policies . It is a key component of good corporate governance , and as information security has become increasingly important , it is also essential in effective data governance .
“ It applies to organisations across industries but is of even greater importance for businesses in financial services , healthcare , manufacturing , and technology , as regulatory requirements are often stringent and complex ,” says Ryan Boyes , Governance , Risk , and Compliance Officer , Galix .
Promotion of Access to Information Act , and the Cybercrimes Act . These all relate to both IT and information management as well as sound data governance , and they need to be embedded in an organisation ’ s overall compliance strategy .
However , compliance with legislation should never be solely about meeting regulatory obligations ; there are several other good reasons why compliance logic needs to be a priority . If a business fails to have the correct systems in place and suffers an incident that amounts to a compliance breach , the consequences go beyond the legal penalties , which include financial and other penalties .
Left : Ryan Boyes , Governance , Risk , and Compliance Officer , Galix Right : Richard Frost , Head of Consulting , Armata Cyber Security
Compliance logic requires businesses to identify and understand the laws and regulations that apply to them and then develop and maintain internal policies and procedures that align with both regulatory requirements and industry standards to mitigate compliance risks .
It is essential to also continuously monitor activities and conduct audits to ensure ongoing compliance , as well as to maintain accurate records and documentation to demonstrate compliance and support audit processes . Training and awareness also need to form part of compliance logic to educate all parties on relevant regulatory requirements and the importance of adhering to them .
The key regulations from a South African point of view are the Protection of Personal Information Act ,
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