Industry and local laws and regulations

Introduction

Protection of data, both commercial and public, is a grave concern for governmental bodies. Even after implementing several methods and layers of protections, corporations fail to ensure maximum security for all the data that they hold, both private and public third-party data.
This is where the government IT department must take charge and impose particular industry-specific laws and regulations which strengthen cybersecurity at enterprises. But, only making laws is not good enough. Government bodies must also ensure that the corporations comply with the laws for which they impose further incentives or a form of strict control known as regulations that ensure that the new IT laws are put into action.

Example

The Indian government published the Information Technology Act in the year 2000. It focuses explicitly on protecting electronic transactions since net banking and applications for online transactions were becoming more relevant and more prone to cyber attackers at that time.

Types

Every country has its cybersecurity and information technology laws. Apart from additional laws and regulations, they all have one clause in common, forcing corporates and enterprises to have full transparency with their data and the data they hold on behalf of other third-party groups such as customers, contractors, etc. Countries like India, the USA, UK, France, China, etc., have deployed a complete and working cybersecurity bill.

Advantages

Such bills and acts were made to be advantageous for the public as well as the organizations.

  • When organizations share hacks, exploits, or any dormant malicious codes, it becomes registered in the governmental records. Their IT team works on it to discover potential solutions for the attack. In the future, any similar attacks can be handled easily with the government’s assistance.
  • Full transparency also allows the government to find the root cause of any data breach which may take place.
  • For organizations, employing full transparency and compliance with the IT laws and regulations allows them to come into the government’s good books, which could benefit from receiving grants/subsidies or better brand image protection for working in line with the government.

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