By applying an information security framework, you are not only concerning your organization’s cyber health. But, you are also obeying the industry and regulatory best practices for IT security.
What is an Information Security Framework?
An information security framework is a security leader’s guide in assessing their security health. And also of their vendors.
Besides, following a framework allows easy assessment, monitoring, mitigation of risks.
So here are seven common frameworks for information security.
7 Common Information Security Frameworks
1-2. ISO 27001 & ISO 27002
ISO 27001 and ISO 27001are both under the International Organization for Standardization (ISO). This is considered an international standard in rating a cybersecurity program.
For example, here are the benefits of being ISO-certified:
- It builds trust with your customers, partners, and shareholders. Because passing this means that you are managing cyber risks by international standards.
- It also indicates that a company is a mature cybersecurity entity.
The Service Organization Control (SOC) Type 2 is under the American Institue of Certified Public Accountants (AICPA). So it concerns more about data and accounting. By this certification, it verifies that a vendor is securely managing client data.
Besides, the SOC2 is one of the hardest frameworks to implement. More so, in the finance and banking sectors. This is because of the sectors’ high standards for compliance.
The North American Electric Reliability Corporation- Critical Infrastructure Protection (NERC CIP) sets cybersecurity standards for utility and power sectors.
For instance, this framework aims to help organizations know and mitigate existing cyber risks in their supply chain.
The Health Insurance Portability and Accountability Act (HIPAA) sets the cybersecurity standards for healthcare entities.
For instance, this helps them to implement security and protection of medical records. More so, the sensitive electronic health information of patients.
HIPAA also encourages the healthcare sectors to conduct regular risk assessments. By doing so, the identification of risks is monitored and prevented as soon as they emerge.
However, many healthcare organizations still find the HIPAA framework challenging to implement.
The General Data Protection Regulation (GDPR) is a cybersecurity framework for data protection and practices. This framework is also under the European Union (EU).
Thus, it protects the cyber safety of European citizens.
All businesses are under compliance with GDPR. Specifically, any business that collects and stores personal or private data of EU citizens. But, this is not limited to EU businesses. So, this also includes the U.S. businesses that deal with EU citizens.
Part of its protocol, for instance, is to notify clients of a breach within 72 hours of discovery. Otherwise, necessary penalties and fines will be incurred for the entity, which may be as high up to €20,000,000 or 4% of global revenue.
The Federal Information Security Management Act (FISMA) is the cybersecurity framework for the federal government. So it aims to protect the information systems and networks of the entity against cyber attacks.
The FISMA framework also applies to the federal’s third parties. Which also includes vendors and entities who work on behalf of government entities.