For companies, there are a lot of cybersecurity laws to follow if they want to keep their business afloat and away from hefty fines. What, then, are these laws? Read below to know.
Cybersecurity Laws to Follow
Today, we now rely heavily on technology. Because of this, our life has become so much more connected than ever before. Because of this, there is also an increased chance for information to be breached by hackers.
When it comes to the cybersecurity laws that need to be followed, two main ones come into play. These are the Gramm-Leach-Bliley Act and the Health Insurance Portability and Accountability Act (HIPAA). Both of these acts were passed back in the year 2000.
Let us get to know each one below.
The Gramm-Leach-Bliley Act (GLBA)
The GLBA is one of the major acts that come to play in cybersecurity laws. It mainly affects financial institutions. These institutions include banks and financial service companies.
The GLBA was put into effect to ensure that a person’s nonpublic personal information will be protected by these institutions. This way, if a hacker would hack into their systems, they will not be able to get a hold of the information that they need.
Further, this act also has the government’s backing as well as support from the president as well as Congress. This is why it is considered one of the most important cybersecurity laws out there.
Health Insurance Portability and Accountability Act (HIPAA)
Concerning the GLBA, another major cybersecurity law is HIPAA. It mainly covers health care providers and health insurance companies.
The main goal of this law is to ensure that a person’s private health information will be kept safe from being breached by hackers through the Internet. The HIPAA law also requires providers to have state-of-the-art systems in place. This is to make sure that their client’s data is not breached by hackers.
If a provider does not meet this requirement, he or she may face penalties such as fines or even jail time if they do not comply with what the law states. The same penalties apply to those who do not keep their client’s information safe from hackers and other cybercriminals.
Other Cybersecurity Laws to Follow
Aside from the two above, some laws and regulations were made for each industry. For example, if a company is in the oil, gas, or energy field, it should be aware of the Cybersecurity Information Sharing Act of 2015.
Other cybersecurity laws are also there for IT service providers, cloud service providers, and retailers. These are just some of the cybersecurity laws that companies must abide by to keep business afloat while keeping client information safe from hackers.
Follow All Cybersecurity Laws
As you can see, all these laws are here to make sure that private information is protected from hackers and other cybercriminals. This way, if a hacker would hack into a company’s systems, he or she will not be able to get a hold of the information that is private and personal.
If you are in the business world and you do not want to face hefty fines or even jail time, then follow all of these cybersecurity laws.