IT Corporate Governance and Digital Security System

 

Meeting the requirements of the regulatory commission is a constant-changing, intricate and costly process. In addition, the compliance needs to reach beyond the regulation of digital security system and international standards. This is a huge challenge for the IT companies, which should also meet their company goals, such as keeping their system up-to-date, enhancing employee mobility, calculating targeted risks, and others. Keeping track of your company's objective while protecting sensitive data can be an overwhelming task, but this is possible.

 

10 Principles of Good Corporate Governance and Digital Security for IT Compliance

 





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Principles under corporate governance should be subjected to periodic review and assessment. To meet the evolving landscape of the business, the principles listed here are subject to change.

 

1. Risk Management Implementation

 

The failure of risk management is indeed one of the things that created the shock on the IT industry. The regulator should understand that risk management is not the process of eradicating the risk; the goal is to understand the risk and manage it successfully clearly. In addition, managing digital security risks should not be treated per business unit but should be implemented based on the overall business structure.

 

2. Requirement for the Qualification

 Corporate Governance

To preserve the data of the IT Company, they should consider the qualification of their employee. They should have successfully completed the desired course, received comprehensive training, and passed the examination. Their attitude and ethics towards work should also be examined as a part of corporate governance.

 

3. The Function of the Board Committee

 

The board committee should be responsible for the legislative and traditional practice. They are also accountable for auditing and monitoring the efficacy of digital security, risk management, internal audit, and control.

 

4. Disclosure of Practice

 Corporate Governance

Every department should be obliged to report their internal control and risk management practices. It should range from the general subjects to more specific areas and detailed reporting. 

 

5. External Auditor

 

External auditors are responsible for auditing the external conflicts and risks. They should have restricted access to the information to preserve the company's digital security.

 

6. Cybersecurity

 

Cyber security is more than just updating your malware and anti-virus software to meet several security concerns. By creating good security policies and sticking with them, the possibility of data breaches can be minimized.

 

7. Accountability

 Corporate Governance

Protecting the data should not only be the responsibility of the Chief Tech Officer. The board should also handle cyber issues and compliance to promote a culture of responsibility and accountability.

 

8. Training the Employees

 

Employees should be trained on securely handling the data that pass through the system. By training them, they should understand the limitation and the parameters of maintenance and proper use of the data.

 

9. Third-Party Users

 

Digital security does not only concern the things that happen inside the company. In some cases where third-party users can utilize the data you are collecting, you must create a detailed contract that will establish their protection.

 

10. Cyber Insurance Policy

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If things come to worse, you should be prepared to handle it. Having cyber insurance can minimize the company's expenses during a massive breach of data.

 

Staying in compliance with the international standards on data security can be a daunting process. But by establishing a solid corporate governance policy, this can be achieved.

 

Corporate Governance and Digital Security on IT Equipment Disposal

 

There is a growing awareness about the proper IT Equipment disposal and digital security. Over the last few years, we have heard horror stories about private information surfacing the public because of the old IT equipment disposal. A computer of the Bank of Montreal that was discarded contains thousands of customers' information; a former executive of Morgan Stanley sold his Blackberry for only $15, including contact information of different companies. There is also a growing environmental threat of improper IT Equipment Disposal. Electronic Waste contains a high concentration of mercury, cadmium, and lead that has a high impact on the public's health.

 

Make Sure to Destroy the Data

 Digital Security System

Avoid getting blazed by security claims by totally pulverizing all information before discarding IT resources. Medicinal services and money-related administrations ventures should highly comply with the laws and standards of HIPAA, which states that the risk in that industry when it comes to IT Equipment Disposal is a lot higher.

 

One effective methodology favored by the individuals affected previously on IT Equipment Disposal is physically destroying the drives before disposing of the machine or giving it to the recycling center. However, for most ventures, totally overwriting the data string based on stringent rules should be adequate. Essentially erasing the document allotment table isn't sufficient as the information on the deleted files can easily be retrieved using a program. Other companies hire a specialist in data recovery to ensure that all their information has been completely wiped out. This should be a part of your good corporate governance.

 

Minimizing the Impact on the Health and Environment

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75%-80% of the recycled IT Equipment is being disposed on the Third World Nations, where they get washed through a progression of representatives before being dumped in disagreeable ways. This method was exposed last 2002 due to the research and study done by Silicon Valley. An ideal way is to do it with extreme diligence on how your disposal services handle hazardous materials. Likewise, IT companies should know what their downstream sellers are doing. Roughly 50 bits of proposed enactment targets e-waste above the existing state prerequisites for unsafe waste transfer. A few recommendations would order charges incorporated with the expense of new machines to cover the cost of correct IT Equipment Disposal.

 

The innovation for reusing electronic gear is enhancing, so search for sellers utilizing cutting edge techniques and procedures on their IT Equipment Disposal. Most disposals are finished by physically pounding segments and isolating crude materials. Nonetheless, IT recycling is a constrained alternative because there's an insufficient business opportunity for reused materials.


The Biggest Digital Security Risk in Business

 

When you weigh on the most significant digital security risk for your business end-user, phishing, social media, and user training are some of the factors that can compromise your security.  Although DDoS attacks and security leaks often headline the IT world every year, most businesses fail to execute the proper procedure to safeguard their sensitive data.  Here are some of the most considerable security risks in business and some tips on how you can eliminate or mitigate the risk.

 

End-User

 

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No one is generally at-fault with this digital security risk.  The result of this is commonly due to insufficient awareness.  The loss of total control over the end user's actions is challenging to uncover.  Before you know it, the situation is probably hopeless.  For instance, a staff who will soon resign can download all the customers' data in a cloud service, and he can access that information once he gets employed by the other companies.  It is imperative to let them be aware of their responsibilities and the ramifications related to their actions.  You may also set up a company policy to combat such threats.

 

Phishing

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Your business is also exposed to phishing attacks that work similarly to malicious apps.  They aim to collect data from the customers.  Based on the study, this type of attack has increased by 150% over the past few years.  In a more recent event, this attack became more precise and focused on their targeting.  Spear Phishing is a method used to attack high-profile individuals.  To stay safe from this attack, you need to implement a blend of technical control and increased awareness for individuals who may be a target of Spear Phishing.

 

Social Media

 Digital Security System

 

Neglecting your social media can lead to unfortunate consequences.  For those who have an unmonitored account, it will be a target of numerous malicious attacks such as viruses that can easily spread on your followers, affecting your business's credibility.  A simple human error can also be a threat.

 

Keeping your employees vigilant can mitigate these digital security risks.  Some companies will send a regular reminder to their employees about the proper practice when sending e-mail which can protect sensitive information and uphold the business's authority.


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