ATLANTA, Dec. 1, 2016 /PRNewswire/ -- Despite the explosion in data collection among companies in every sector and the well-documented risks of cyber threats, a new survey of nearly 500 U.S. C-level executives and senior-level managers reveals that nearly half are unsure which information security and privacy regulations apply to their organizations.
This troubling statistic uncovered in the 2016 State of Compliance survey conducted by Liaison Technologies, a recognized leader in cloud-based integration and data management solutions, suggests that U.S. organizations may still have a long way to go in getting a handle on the privacy and security regulations affecting their industries, even as breaches and their resulting financial impacts become more prevalent and expensive.
"As leaders in the compliance domain we thought it was important to share our findings on how U.S. companies perceive their regulatory obligations—and examine ways to help improve their compliance postures," said Hmong Vang, Chief Trust Officer with Liaison. "What we found was rather concerning and further evidence of the strong need for comprehensive solutions that can help organizations maintain continuous compliance when handling regulated or other sensitive data, whether the data resides on premises or in the cloud."
The survey and accompanying infographic reveal that many organizations could be failing their customers or unnecessarily putting data at risk by underestimating the importance—and ongoing effort—of maintaining compliance. Some 25 percent of respondents say it's unclear who in their organization is responsible for compliance and barely half consider their data to be secure in the cloud, raising questions about how high of a priority data protection is, despite well-publicized data breaches.
Personal liability may be vastly underestimated as well with 85 percent of respondents indicating they do not feel their job security is at risk due to compliance issues. In contrast, the U.S. Department of Health & Human Services alone has investigated more than 24,000 cases of HIPAA privacy violations, forcing violators to pay settlements totaling nearly $4 million and referring some cases to the Department of Justice for criminal investigation—a risk that far exceeds job security.
"It's clear that organizations need help navigating the complex waters of information security and privacy compliance," Vang said. "Our cloud-based integration platform ALLOY reduces compliance burden and complexity by inherently providing stringent cross industry compliance for all information it processes and stores, regardless of data type or industry."
The Liaison ALLOY™ Platform is the industry's first Data Platform as a Service (dPaaS). It supports all patterns of integration and provides extensive data management capabilities to harmonize, cleanse, and persist data for real-time access and analysis via APIs. ALLOY's compliance domain far exceeds that of other software providers, dynamically covering data configurations, solution tailoring, and customer-specific SLAs under today's prevalent regulatory frameworks such HIPAA, PCI DSS, SSAE 16 SOC, and 21 CFR Part 11. ALLOY also supports data tokenization, a recognized best practice in securing payment card information.
To view the full 2016 State of Compliance findings, visit http://info.liaison.com/2016-state-of-compliance-infographic.
To learn more about ALLOY and the dPaaS approach to real-time integration, data management and comprehensive security, visit www.liaison.com.
About Liaison Technologies
Liaison Technologies provides integration and data management solutions to help customers unlock the power of a data-centric approach to their business. Liaison's cloud-based approach breaks down the barriers between data silos to tap into the valuable information needed to make better decisions, faster. Tailored to solve complex data problems today while building a robust foundation for tomorrow's unforeseen challenges, Liaison fosters a seamless flow of information securely and at scale. Founded in 2000, Liaison serves more than 7,000 customers in 46 countries, with offices in the United States, the Netherlands, Finland, Sweden, the United Kingdom and Singapore. For more information, visit www.liaison.com and connect with Liaison on Twitter, LinkedIn and Facebook.
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SOURCE Liaison Technologies