Major laws for IT risk management

Compliance is a fundamental consideration for any organization dealing with information security and privacy. Implementing and monitoring internal controls is critical for an organization that handles information that falls within the scope of many continuously evolving state, federal, and industry requirements.

IT incidents such as data leakage or ransomware could lead an organization to not only fall out of compliance but also deal with major financial and reputational damages caused by a data breach or similar incident.

For this section, we can start by asking what the most common regulatory compliance laws are that organizations need to be aware of. But this question is very broad, and many regulations are industry-specific. In the following section, we will review some of the regulatory compliance requirements irrespective of the industry they apply to:

• The Federal Financial Institutions Examinations Council (FFIEC):
  • The FFIEC was...