22 March 2023
Highly regulated industries, including IT, are subject to many regulations impacting your business. IT regulations primarily focus on security and data protection and set a baseline of best practices for IT and security. However, they do not prescribe detailed solutions, meaning it is up to your business to identify the specifics.Framework has helped highly regulated businesses with compliance and security for over 10 years. We recommend adopting the NIST Cybersecurity Framework to meet regulations and manage cybersecurity risks. This set of best practices is well-respected and covers everything you need to know about cybersecurity risk management. You can tailor it to fit your business needs and ensure that your IT practices match the unique challenges and risks you face. Following this framework can significantly improve your cybersecurity and help you meet regulations that apply to your business.
The NIST Cybersecurity Framework helps businesses prevent, detect, and respond to cyber-attacks and is a well-respected best practice in cybersecurity first released in 2014 and since updated multiple times to keep up with the changing cybersecurity landscape. It provides comprehensive approaches to:
The NIST Cybersecurity Framework is widely used by organizations of all sizes and types, providing a common language for discussing cybersecurity risks and best practices that can be particularly useful for communicating with multiple stakeholders.
While no single framework can provide a complete cybersecurity solution, the NIST Cybersecurity Framework remains a valuable tool for organizations looking to improve their cybersecurity posture and reduce their risk of cyber incidents. The NIST Cybersecurity Framework is flexible enough to be adapted to a wide range of organizational contexts. However, organizations should supplement the NIST Cybersecurity Framework with additional measures and practices tailored to their needs and risks.
What are the 5 NIST Framework functions?
Action: Conduct a risk assessment to identify and prioritize cybersecurity risks to the organization.
Action: Implement access controls, firewalls, and encryption to protect systems and data.
Action: Deploy intrusion detection systems and security information and event management (SIEM) tools to monitor suspicious activities
Action: Develop incident response plans and procedures to manage and contain cyber incidents.
Action: Conduct critical data and systems backups and implement disaster recovery plans to restore systems and services.
Maintaining IT security in highly regulated industries is crucial due to the higher data privacy and protection standards. Cybersecurity is emphasized as the key IT best practice for these industries, and the NIST Cybersecurity Framework provides a comprehensive guideline. Adopting this framework requires implementing IT best practices that comply with most IT-related regulations applicable to your company.
Implementing the NIST Cybersecurity Framework can be challenging, and we highly recommend seeking expert help. The Framework team is passionate about best practices and security and is always available to provide guidance and support. It's also worth considering a managed security services provider for ongoing management.
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