Compliance Monitoring Tools in Guinea: A Must for Businesses
In today’s digital age, every company handles sensitive data, including names, addresses, payment details, and more. This data moves through cloud-based technology and collaboration tools that make up the digital workplace. Regulations protect this sensitive data from being shared, accessed, or stored without proper authorizations or outside reasonable boundaries.
What Kind of Data is Protected?
Companies don’t have to be in highly regulated industries like healthcare or finance to be subject to regulations that require compliance monitoring. Any company that holds personal information on its customers could be required to follow regulations that protect personal data, such as the GDPR. Examples of protected data include:
- PII (Personally Identifiable Information)
- PCI (Payment Card Industry) data
- PHI (Protected Health Information)
Why is Compliance Monitoring Important?
Compliance monitoring is critical for ensuring the safe storage and preservation of this sensitive data. It helps organizations comply with a multitude of regulations, including HIPAA, GDPR, CCPA/CPRA, PIPEDA, FINRA, HITRUST, and PCI-DSS.
How to Create a Compliance Monitoring Plan
Having a comprehensive compliance monitoring action plan ensures an organization mitigates the risk of regulatory violations or lawsuits. A successful compliance monitoring plan is designed as a proactive measure to minimize the possible misuse of protected information or data breaches. Here are six steps to creating a compliance monitoring plan:
- Conduct audits
- Locate high-risk factors
- Develop policies and procedures
- Train employees
- Monitor and review data
- Investigate and remediate non-compliant activities
Challenges with Compliance Monitoring
Compliance monitoring is a complex and multi-dimensional undertaking. Challenges include:
- Regulatory complexity
- Data volume and alert overload
- Siloed functions and disconnected systems
- Manual processes
- Incomplete or nonexistent metrics
- Lack of resources
- The growing threat landscape
How Aware Supports Continuous Compliance Monitoring
Aware is a purpose-built platform that identifies non-compliant data sharing and regulations violations in real-time using machine learning algorithms and AI-powered workflows. It can identify noncompliant use of protected information through regular expression (regex) and keyword detection, screenshot and photo analysis, and file notifications with near-human accuracy.
The Aware platform supports regulatory compliance and continuous compliance monitoring across the enterprise. Request a demo today to learn more about how Aware can support your company’s compliance monitoring efforts in Guinea.