Facebook could face penalties worth in billions under GDPR (General Data Protection Act) compliance act for not following the basic policies. It happened because more than 50 million accounts were compromised due to some negligence from this social media giant. As detected during the end of September, 2018, Facebook unveiled that a particular vulnerability in Facebook’s security code gave access to the perpetrators to steal the accesses. As claimed by Facebook, this vulnerability was comprised of three separate bugs which were reset in the remediation process through the affected user accounts are yet to put a ‘safety’ tag.
Similarly, more global organizations have faced the axe of PCI DSS (Payment Card Industry Data Security Standard) regulatory act due to non-adherence to the compliance policies. There are a good number of organizations who have faced problems due to data theft and account breaches. The Office of Personnel Management in the USA suffered a breach of around 4.2 million records and invited hefty penalties from PCI DSS. Even TJX were intimated about similar breaches followed by penalty notice.
Moreover, HIPAA (Health Insurance Portability and Accountability) imposed hefty penalties on more than ten organizations since the beginning of 2018 which again pinpoints some amount of negligence from the organizations. There are numerous incidents where non-adherence to the compliance policies made the future of organizations bleak.
These above incidents show the importance of data security and how the perpetrators are continuously trying to steal data for its high value in the market. On the other hand, regulatory compliances are helping the organizations to keep their data safe from breaches. Privileged Access Management (PAM) solution helps the organizations to attain that desired compliance and directly helps them in securing their data assets.
How PAM can help in regulatory compliance?
Privileged Access Management (PAM) defines the essence of securing the privileged accounts in organizations from different industries. The individual components of PAM provide different benefits to the IT infrastructure of the company and help the administrators in making their job easier. While regulatory compliances demand lots of parameters, PAM helps in fulfilling them by default if deployed. Major among them are:
- PAM provides all the necessary details (with the help of Session Recording feature) to complete any breach investigation
- PAM helps in centralized control over all administrative tasks (with the help of One Admin Control)
- PAM helps in comprehensive audit trails of the organizations to easily meet the compliances
- Deployment of PAM solution prevents organizations from any unauthorized access to the privileged accounts (with Granular Access Control)
- PAM solution authenticates the privileged users before logging into the accounts which indirectly helps in detecting suspicious users
- PAM even helps the administrators to detect any suspicious activity in the IT environment with live monitoring done through the admin dashboard
- PAM optimizes overall security posture and reinforces data security
Regulatory compliance bodies are extremely stringent on the norms and policies. Thus they expect each global organization would abide by those regulations. Today, ARCON | PAM offers regulatory compliance benefits to the organizations and assure them to stay compliant to the bodies like GDPR, PCI DSS, HIPAA, SWIFT, SOX etc.
In a nutshell, organizations themselves are solely responsible for refuting or following the norms that can pave their way for a successful business establishment.
ARCON is a leading enterprise risk control solutions provider, specializing in risk-predictive technologies. ARCON | User Behaviour Analytics enables to monitor end-user activities in real time. ARCON | Privileged Access Management reinforces access control and mitigates data breach threats. ARCON | Secure Compliance Management is a vulnerability assessment tool.</p