Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

Technology is always brimming with advancements, and it is more prominent in the financial sector. As financial institutions increasingly rely on digital infrastructure to enhance operations, customer experience, and security, they also face growing challenges in mitigating the risks that come with it, such as cyber threats, system failures, and other operational vulnerabilities.

Unfortunately, it will often take some kind of disaster in the business world before a government takes action to prevent it from happening again. It’s only when significant data breaches happen that states implement compliance laws to avoid mishandling data; in this case, SOX compliance has a similar backstory. In the early 2000s, the collapse of corporate giants Enron, Tyco, and WorldCom exposed flaws in corporate accountability, leading to widespread fraud and massive investor losses.

The second Network and Information Systems Directive (NIS2) will come into effect on 17 October 2024. This is the date by which all EU member states must implement the directive into national law. Not far behind is the Digital Operational Resilience Act (DORA), an EU regulation which came into force on 16 January 2023 but is effective 17 January 2025.

In the last month, the Vanta team launched new features to help you: ‍

Breaches, be they accidental, careless, or malicious, are an inevitability for most companies. Depending on the industry, the consequences could range from something as minor as a little public embarrassment to hefty fines, lawsuits, expensive remediation actions, and loss of customer confidence (and, with that - business). The question is, how can compliance use this to its advantage and get a share of the security budget before something happens?

For most companies today, the question isn’t whether a data breach will occur, but rather when it will occur. This predicament is primarily due to the sheer volume of data, the challenges associated with monitoring sensitive data, and the transition to remote work. Consequently, IT security teams are constantly navigating a dynamic and enduring risk landscape, making it exceptionally challenging to maintain data security and implement effective sensitive data protection strategies.

Our teams are always hard at work improving the TrustCloud platform. Here are this month’s biggest updates.

In the wide world of information security, there are many different frameworks, standards, and systems in use to help assume a secure stance against threats. Two commonly seen frameworks are SOC 2 and ISO 27001. How do these two stand in comparison to each other, and which one do you need for your business? Let’s discuss.