IT Risk and Compliance for Financial Clients

Risk and Compliance

Simply put, all financial institutions are federally mandated to manage risk, including information technology risk. RED74 can help you achieve and maintain compliance with any of the major U.S. regulation acts to which your firm must comply: Sarbanes-Oxley (SOX), the Gramm-Leach-Bliley Act (GLBA), the Payment Card Industry Data Security Standard (PCI DSS). If your firm does any business in the European Union or simply manages personal information of any EU citizen, then you must also comply with the General Data Protection Regulation (GDPR) enforced by the EU.

Here are just some of the penalties your face by choosing to ignore compliance:

  • SOX: Fines of $5 million and up to 20 years in prison.
  • GLBA: Fines of $100,000 per violation and imprisonment up to 5 years.
  • PCI DSS: Fines of $5,000 to $100,000 each month until issues are addressed.
  • GDPR: penalties up to $23 million or 4% of your global annual revenue (whichever is greater).

Our risk management consultants are ISACA-certified and have extensive experience with helping organizations in the financial industry stay compliant and avoid the hefty penalties levied against those firms that choose to ignore the risks.

Identify, measure and manage IT-related business risk
A vulnerability assessment is a fundamental process for identifying weaknesses and defining the nature of exposure to your business.
A business with an accurate and updated BIA is far more prepared for business interruption and is less likely to be impacted by outages.
Our ISACA-certified compliance consultants will help your organization develop and maintain an effective compliance management strategy.

Ready to move your
business ahead?

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Ready to move your business ahead?

Contact Us Form

Why Choose RED74?

RED74’s team of IT industry veterans delivers comprehensive, reliable and effective IT services and guidance for clients. Our expertise is in information technology; our focus is on our clients’ success.

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