Staying in compliance with government regulations is easier when you work with managed IT services providers in Atlanta. To protect consumer privacy and to ensure accurate financial reporting, governments around the world have implemented several compliance acts.
Let's look at four key regulatory acts you need to know and stay in compliance with.
1. Sarbanes-Oxley Act
If an entity publicly trades within the United States, it must meet the regulatory requirements of the Sarbanes-Oxley Act. Company officers have a legal responsibility to make accurate reports on how much capital a company has and how it is spent.
Failure to meet these requirements can involve large fines and even jail time.
2. Health Insurance Portability and Accountability Act
The HIPAA regulations require any entity who holds, creates, receives, maintains, or transmits protected health information to keep it safe and private at all times. This includes the primary data holders, such as doctor offices and hospitals, as well as their subcontractors.
HIPAA security is taken very seriously. Non-compliance can lead to heavy fines and jail sentences. Smart healthcare companies work with managed IT services experts in Atlanta to keep them compliant
and protect their clients’ important data.
3. General Data Protection Regulation (GDPR)
The General Data Protection Regulation (GDPR) act comes from the European Union. It applies to any entity that gathers and holds personal information from an EU citizen. North American companies must comply with these regulations if they want to do business inside the EU.
The GDPR protects its citizens' right to privacy. Visitors can consent to a company retaining certain types of information. However, those visitors can revoke that consent at any time. And you must comply with that revocation without any argument.
4. Payment Card Industry Data Security Standard (PCI DSS)
The PCI DSS is a private security standard designed to reduce credit card fraud. It's a cooperative effort between major credit card providers to ensure that merchants meet expected levels of security for storing, processing, and transmitting cardholder information.
Merchants that choose to accept credit cards are required to meet the PCI DSS standards. It's not a legal requirement. It's a provision in the contract they sign with the issuing banks. Non-compliance can mean fines or other types of penalties.
If your company needs to comply with any government regulation, you need the help of professionals. Our managed IT services experts in Atlanta at MIS Solutions Inc. can help you identify your compliance requirements and help you implement effective solutions. Contact us now for more information.