Privacy & Regulatory Compliance |  |  |  |
Data is the currency of the digital economy. Individuals, Businesses and Governments all use data to perform their day-to-day affairs, which leads to an explosion in information collection, use, and storage.
A 1998 survey reported 75% of 563 businesses, government agencies, financial institutions and universities suffered financial losses due to security breaches. This statistic most likely is higher because many breaches went unreported. Recently the Federal Trade Commission estimates that as many as 9 million Americans have their identities stolen each year due to security breaches and other illegal activities. These incidents have severe impacts on organizations and individuals.
Organizational Impacts:
- Loss of trust
- Damaged reputation
- Incident response and recovery costs
- Extra oversight
- Legal
Identity Theft Victim Impacts:
- Time
- Money, credit
- Reputation
- Stress
Agencies and businesses today must comply with a wide range and far-reaching government regulations and industry standards. Meeting these requirements in the most effective way requires extensive technology, process and regulatory expertise. You must:
- Understand which regulations your company or agency must comply with
- Develop information security and privacy policies and procedures that reduce organizational risk and protect information assets
- Define and document proper roles and responsibilities to insure that critical security and privacy functions are adopted and managed
- Develop adequate Privacy and Security Awareness Training for your employees (Federal agencies or private industries)
- Select, implement and manage integrated technology tools that support your compliance initiatives.
If you lack the internal expertise in all these areas, working with an expert partner like Avalon Global Solutions (AGS) will be critical to implementing the right solution.
AGS can assist enterprises to protect the confidentiality and security of your Personally Identifiable information (PII) and Protected Health Information (PHI). AGS takes an integrated approach to Privacy & Regulatory Compliance that leverages the best technologies and practices to enable enterprises to do business in a secure and compliant environment while protecting the privacy of their employees, customers and partners.
The principles of fair information practices that form the basis of US Privacy legislations and guidance and the current self-regulated model in US leads to proliferation of complex and often conflicting laws that attempt to protect individuals from the misuse of their personal information; these laws and regulations that may differ depending on industry sector.
The AGS Privacy Team provides privacy program support, ensuring that the confidentiality of PII data and compliance with a wide variety privacy requirements including:
- Privacy Act of 1974,
- Freedom of Information Act (FOIA) (1974)
- And Privacy Laws (CSA 1987, COPPA 1998, FISMA 2002, E-Government Act 2002, HIPAA 2003)
- OMB guidance, memorandums, and directives
- NIST Guidance
- PCI DSS
AGS starts with a thorough gap analysis and privacy impact analysis (PIA) of your current policies and procedures against both internal and external compliance requirements for your industry. Then, we work with you to design and implement solutions that close those gaps to ensure ongoing regulatory compliance. Finally, AGS offers reporting options that help you reliably and accurately report on the integrity of your systems and data.
 | |
Establishing visible, pro-active oversight of communications, procedures for data handling and privacy awareness training. Update procedures that positively demonstrate that privacy risks and regulatory requirements are managed and corporate objectives are supported and achieved.
With AGS you get:
- Vendor agnostic recommendations and solutions
- Greater accountability
- Improved operational support
- Increased clarity
- Decreased cost
| |
AGS has a wealth of experience in helping customers meet regulatory compliance and reporting requirements. Our Subject Matter Experts can help organizations to:
- Develop Privacy policies for the organizations
- Develop Privacy Policies and statements for websites
- Develop Breach Notification Policies
- Develop PII breach response process
- Develop Privacy Threshold Analysis (PTA)
- Develop and post Privacy Impact Assessments (PIA)
- Develop and post System of Records Notice (SORN)
- Assist agencies to handle Privacy related Incidence
- Perform Privacy Risk Assessments for existing systems and programs
- Perform Privacy Assessments on existing systems for compliance with a wide variety of regulations
- Develop Privacy requirements for new systems and websites to ensure compliance
- Perform Automated Privacy Scans for web applications and provide remediation strategies and reports
- Develop and conduct Privacy trainings for increased awareness within your environment
| |
Compliance Can Be Expensive
Compliance costs for business of all sizes are skyrocketing due an ever increasing number of federal and state regulations. Failure to understand and comply can result in big fines that negatively impact your bottom line and brand.
- Solutions to individual regulations are difficult to support and expensive
- Integrated solutions from Software vendors may not be customized enough for your company - one size does not fit all!
| |