The Education sector resembles the Healthcare space in that it is very new to regulation. However, unlike the Healthcare industry, this industry is not trying to break down compliance one step at a time leaving companies in an extremely high risk category.
This industry is requiring all Schools to implement an Information Security Management Program (ISMS) to secure their assets. The amount of data in the form of Personal Identifiable Information and Financial information has tipped the scales at some high number and while these entities struggle to meet technology demands, their risk posture increases daily.
Let the professionals at The Knox Corps guide your entity to compliance and set forth strategies to mature the Information Security Program while driving down business cost and increasing efficiency.
Companies in the education sector must comply with multiple regulatories in order to keep the customer's data safeguarded along with their privacy.
Schools should pursue the following:
FERPA - Family Education Rights and Privacy Act is a FEDERAL regulation targeting schools that prohibits the disclosure of personal identifiable information, financial records and grades.
PCI DSS - Protecting carholder information will protect the parent and the student's credit card information.
ISO - Schools should follow ISO Compliance as well to introduce an Information Security Management System into their institution to protect personal identifiable information, integrity of school material and transcripts.
HIPAA - Schools must protect the health infomation of the student.
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Regulatory and Frameworks
The Education sector houses a multitude of data sets ranging from personal identifiable information, credit card information, financial information,medical information, secure grades, intellectual property and many more and these data sets translate to regulatory mandates.
Regulatory fines can get to be very complex when equating risks to dollars. At times, the total cost for a breach might exceed to what the business is worth. Regulators mandate that fines are received 30 days after their initial report.
Breaches lead to reputational damage that equate to losses and eventually the non-existence of your business. Hackers are not your only enemies, your competitor could be an enemy.
It is time to protect your business and the identities of your customers, contact Knox!
1. Seek a Risk Assessment of the firm that covers the multiple regulatories.
2. Seek an experienced Chief Security Officer.
3. Seek Board involvement and investment.
4. Prioritize risk by numbers and impact to the firm.
5. Implement a security framework consistent with policies and procedures.
6. Contact The Knox Corps to plan and execute the identification and remediation of risk today!
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