Category:

Compliance Standards

Staying informed about all of the cyber security compliance standards is essential to keeping your company safe from hackers. Read on to learn about the various steps you can take to stay up to date with your industry’s compliance standards.

FINRA / Financial Industry

Best Practices For FINTECH Compliance

by RSI Security August 29, 2019April 27, 2020

written by RSI Security

Today, you can snap a photo of a check and deposit it without ever leaving your couch, making banking and investing more convenient than ever. This revolution is largely thanks to the rise of Financial Technology or Fintech. Fintech’s impact reaches beyond ordinary people, allowing companies to improve operational efficiency and customer convenience. With this new technology comes a greater responsibility to protect consumers’ financial and personal information by keeping up-to-date on Fintech compliance regulations.

Are you a financial institution or startup trying to achieve Fintech compliance? Read on to find out how to comply with the rules and regulations.

August 29, 2019April 27, 2020 0 comment

HITECH

HITECH Enforcement & Penalties

by RSI Security August 28, 2019January 6, 2025

written by RSI Security

When you’re sick and at the doctor’s office, you have to reveal a lot of personal information for the physician to properly treat you. Within your file contains your demographic information, your personal medical history, mental health, tests and lab results, insurance information, and more. All of this falls under a specific category called protected health information (PHI).

In 1996, Congress passed the Health Insurance Portability and Accountability Act (HIPAA) in order to protect patients’ PHI. Privacy and security weren’t the only topics covered in HIPAA. It also addressed health insurance prices and changes, encouraged the use of electronic health records (EHRs), and developed the groundwork for a national healthcare standard.

HIPAA was amended — rather, bolstered — in 2009, when Congress passed the HITECH Act. It addressed many of the problems arising from HIPAA and helped bring the framework into the 21st century. It also brought with it harsher penalties for HIPAA noncompliance. To avoid these fees, healthcare providers and their business associates must understand the HITECH Act penalties and enforcement.

August 28, 2019January 6, 2025 0 comment

HIPAA / Healthcare Industry HITECH

Does HITECH Affect HIPAA?

by RSI Security August 22, 2019September 2, 2020

written by RSI Security

Over the past three decades, America has been transformed by revolutionary technologies such as the internet, PC, laptop, and mobile phone. New tech ushered the world into the Information Age, creating a paradigm shift in how data and information could be logged, stored, and shared. This change completely altered the face of the American economy; and in the space of a few years, digital electronics became an essential facet of business life.

Few industries were as fundamentally impacted by this shift as the healthcare industry. Seeing this, the U.S. government created security measures to protect private electronic patient info. They started with HIPAA in 1996, which then received a much-needed update more than a decade later with the HITECH Act. Naturally, you might wonder, how does HITECH affect HIPAA? Below, we’ll answer that question and others related to both information security regulations.

August 22, 2019September 2, 2020 0 comment

HITECH

What Is HITECH?

by RSI Security August 21, 2019September 2, 2020

written by RSI Security

When asked about the Obama administration’s efforts to reform the American healthcare system, most people will think of the Patient Protection and Affordable Care Act, also known as “Obamacare.” Many forget or fail to realize that a year prior to the ACA’s creation, Congress had already passed the largest healthcare reform measure in decades in the form of the Health Information Technology for Economic and Clinical Health Act (HITECH).

One of the reasons why HITECH’s addition went mostly unnoticed and unremarked is that it was a subsection of President Obama’s American Recovery and Reinvestment Act of 2009. Few realized that this stimulus package introduced sweeping changes to the healthcare industry that had far-ranging impacts on the relationship between patients and providers, especially pertaining to healthcare provider treatment of private health information.

Do you want to know what is HITECH in healthcare and how it protects your private information? Read on to find out.

August 21, 2019September 2, 2020 0 comment

FINRA / Financial Industry

The Many Cyber Security Threats To The Financial Sector

by RSI Security August 9, 2019April 27, 2020

written by RSI Security

In today’s society, there are new cybersecurity threats to the financial sector every day. Find out the most common risks for financial institutions here.

Cybersecurity threats pose a substantial risk to just about every company and individual all over the world. That may sound like hyperbole but according to USA Today, billions of people have been affected by cybersecurity attacks. Financial institutions are particularly at risk due to the massive amount of capital they oversee. Understanding the risks and how to protect yourself are vital in succeeding in the financial world.

August 9, 2019April 27, 2020 1 comment

HITRUST

What Are the 3 HITRUST Implementation Levels?

by RSI Security August 1, 2019August 23, 2021

written by RSI Security

Healthcare is an industry intertwined with our everyday lives. The young and the old alike rely on doctors to keep them healthy and usually, in that pursuit, reveal personal details to their health practitioners. This means consumers put a lot of trust in healthcare companies.

But with technology taking over the mundane tasks of healthcare, threat actors target health institutions for that personal information. The Health Information Trust Alliance (HITRUST) is designed to verify privacy and security compliance combat healthcare fraud. In particular, there are three different levels associated with HITRUST controls.

Learn about each HITRUST level and why it’s important with our comprehensive guide.

August 1, 2019August 23, 2021 0 comment

PCI DSS

What Are The PCI DSS Compliance Regulations for the Cannabis Industry?

by RSI Security July 19, 2019April 27, 2020

written by RSI Security

The legalization of recreational and medical marijuana in many states and countries around the world has made the global marijuana market one of the fastest-growing industries. According to a recent report by the Grand View Research, Inc., the global legal marijuana market will grow to $66.3 billion by 2025.

Cannabis is being widely used as a pharmaceutical product. It is said to be effective in treating severe medical conditions like arthritis, cancer, and Parkinson’s disease. This has contributed to the increased demand for medicinal marijuana.

Moreover, recreational marijuana or the use of cannabis without medical justification is being legalized in many states and countries. In the United States, 11 states and the District of Columbia have legalized the recreational use of cannabis among adults. Countries like Canada, Belize, Jamaica, Argentina, and the Netherlands have also decriminalized the use of marijuana.

All these developments point to the expansion of the cannabis industry in the years to come. Marijuana dispensaries can maximize their growth potential by complying with the Payment Card Industry Data Security Standard (PCI DSS), an information security standard for payment processing. Cashless ATM or point of sale (POS) banking is considered a viable and important platform for marijuana dispensaries to grow their sales. With POS banking, online cannabis dispensaries can accept purchases from customers who use their credit and debit cards.

July 19, 2019April 27, 2020 0 comment

HIPAA / Healthcare Industry PCI DSS

Do Dispensaries Share Information With The Government?

by RSI Security July 18, 2019September 12, 2022

written by RSI Security

Ever since California passed Proposition 64 legalizing marijuana for recreational use, the market has exploded with more dispensaries and farmers joining the green growth. Statista’s forecast of marijuana sales projects that in 2020, annual sales will reach 5.62 billion dollars, by 2025, that number reaches 6.59 billion dollars.

If you look at the total national projected growth for 2020, at 8.22 billion dollars, it’s important to note that California’s projected sales make up the vast majority of the nation’s projected growth.

July 18, 2019September 12, 2022 0 comment

PCI DSS

Cyber Security Data Protection Plan For The Cannabis Industry

by RSI Security July 17, 2019January 14, 2020

written by RSI Security

The cannabis industry has been booming recently due in part to legalization legislation that has helped to alleviate barriers to market entry. Recent trends tell us that the cannabis marketplace is projected to grow at a staggering rate from $10.3 billion in 2018 to $39.4 billion by 2023. With more and more states opening up their borders for marijuana, many businesses are looking to technology to manage this increase in customers.

As of November 2018, 10 states have legalized recreational cannabis while 33 have approved it for medical uses. As more states are opening their borders to legal cannabis, business owners are beginning to become more digital in their endeavors thanks to this newfound legalization. But digitization isn’t all good if you don’t have a cybersecurity plan to protect your data.

Brands that are able to infuse innovative technology into their network infrastructure can use it to analyze and predict valuable consumer trends that will enable them to make critical decisions in the future. Having a cybersecurity plan in place to supplement this type of innovative undertaking is what will help your cannabis business thrive. Let’s look into the specific areas of interest that you should be focusing on when cultivating your cybersecurity plan and which proactive measures you need to take to avoid being a victim of a cyber-attack.

July 17, 2019January 14, 2020 0 comment

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