A great business leader knows they have to play by the rules before they can change the game. This is why being well-versed in IT compliance in Chicago is imperative. Compliance has become the new house rules for how businesses conduct themselves on the board. To ensure all of your pieces stay in play, here are the compliance regulations we at Future Link IT want you to know before rolling the first dice.
Mastering GDPR: EU’s Game-Changing Rules
The European Union rolled doubles on protecting the information of its citizens with the General Data Protection Regulation (GDPR). While your business may be based in the US, any entity that processes and stores the personal data of EU citizens must follow this compliance.
These guidelines must be followed unless otherwise consented by individual citizens. Visitors retain the right to withdraw their information at any time, and companies must respect the individual’s right to be forgotten. Essentially, an EU citizen will allow some of your house rules until they want to change the game, and you must respect their decision — no rage-flipping the board.
You can rise above IT compliance challenges and conduct business in European markets with a qualified technology partner. Future Link IT helps you transition to GDPR compliance, ensuring you meet regulatory standards and avoid fines of up to 4% of your global annual turnover or $22.4 million (whichever is larger).
PCI DSS: Your Winning Strategy
Payment Card Industry Data Security Standard (PCI DSS) compliance creates an additional layer of protection for credit, debit, and cash card transactions. It ensures your customers’ card information is kept safe when stored, processed, and transmitted.
A great technology partner can make all the difference in your regulatory status by building a secure network and maintaining crucial systems throughout the year. You’ll be able to avoid risky noncompliance fines and ensure you stay in the game.
Sarbanes-Oxley Act: Transparency for the Win
In the legendary and hallowed battle of wits known as Go Fish, strict penalties fall upon the deceitful when caught lying about not having a certain card. This is similar to the Sarbanes-Oxley Act (SOX).
SOX maintains transparency among entities that publicly trade within the U.S. It holds company officers responsible for accurate reporting and requires several auditing measures to show how much capital a company has and where it is being spent.
With intuitive IT services, you can maintain the faith of investors, remain transparent, and discover the streamlining benefits that SOX provides. Not to mention, you’ll avoid hefty fines and jail time so you can pass go and collect your profit.
HIPAA Compliance: Safeguarding Health Data
The Health Insurance Portability and Accountability Act (HIPAA) protects the storage of an individual’s medical records. Like the Operation board holding various ailments, companies known as Business Associates (BA) hold the medical, insurance, and payment records of individuals. Your company is considered a BA if it creates, receives, maintains, or transmits protected health information, and compliance pertains not only to the primary data handlers but also their subcontractors.
To safeguard this information from top to bottom, a technology partner becomes the red light and buzzer on the patient’s nose, a safeguard against anyone trying to remove the “water on the knee” of information from your client’s records. Working with tech services provides the necessary solutions so you and your partners transmit data securely.
Your IT Compliance Partner: Consider Us Your Game Master
Partnering with Future Link IT is the easiest way to ensure you’re meeting and exceeding compliance standards. Contact us today to be your guide in the IT Compliance game, and we’ll help you become a seasoned player.