Excerpt from InCyber News Article, Published on Dec 11, 2023
In the cybersecurity realm, compliance has surged in prominence since the early 2000s with the introduction of regulations. The landscape accelerated following significant cyberattacks in the 2010s, notably the 2011 breach of Sony’s PlayStation Network. This incident prompted swift regulatory action in Europe, culminating in the GDPR and NIS directives in 2016.
The COVID-19 pandemic fueled a widespread adoption of digital tools among companies, magnifying the need for robust cybersecurity measures as part of risk management strategies during digital transformations.
Diverse sectors, including pharmaceuticals, hygiene, and data protection, now necessitate compliance. Innovations like RegTechs, LegalTechs, and SupTechs have emerged to streamline compliance processes, manage documentation, and automate audits by regulatory bodies.
RegTechs focus on enhancing compliance through technology, while LegalTechs aid legal professionals in organizing and optimizing legal procedures and documents. Additionally, SupTechs, which work for government organizations like the Banque de France and ACPR, improve compliance monitoring and reporting.
In the realm of digital security, compliance emphasizes proactive measures to ensure robust data and IT system security. The integration of RegTechs and LegalTechs enables the assessment of data protection standards and the implementation of cybersecurity risk mitigation processes.
These technologies present avenues for automated legal processes, document management, compliance training, and real-time monitoring of digital activities. They offer a bridge to enhance communication and transparency with supervisory bodies, utilizing advanced technologies like artificial intelligence for efficient regulatory compliance.
To delve deeper into this topic, please read the full article on InCyber