Compliance
What is SOC Compliance?
SOC reports are based on Statement on Standards for Attestation Engagements 18 (SSAE-18, formerly known as SSAE-16), a set of auditing standards developed by the American Institute of Certified Public Accountants (AICPA).
Through SOC reports, the organization can reduce compliance costs while proactively addressing risks across the organization to increase trust and transparency to internal and external stakeholders. However, there are three different types of SOC reports available according to the organization’s requirements.
Types of attestation Hackers Crowd offers
SOC 1 – SOC 1 control is intended for companies that carry out controls on the financial statements. Its purpose is to evaluate the effectiveness of a cloud service provider’s internal controls affecting the financial relationships of a customer using the provider’s cloud services.
The Statement on Standards for Attestation Engagements (SSAE 18) and the International Standards for Assurance Engagements No. 3402 (ISAE 3402) are the control execution standards and the basis of the SOC 1 report.
Further, SOC 1 report is differentiated into two types Type 1 and Type 2.
SOC 1 Type 1
It focuses on a specific date and describes the procedures and controls that a service organization uses including the control systems test to determine if it’s been designed correctly.
SOC 1 Type 2
It goes a step ahead and provides the service organization with an opportunity to report on its controls’ operating effectiveness over a period of time i.e. six months, in addition to the controls’ design.
SOC3 – The SOC 3 report provides a summary of the SOC 2 report, based on the results of a SOC 2 Type 2 assessment. In particular, it complies with the SSAE 18 standard, with sections AT-C 105 and 205
SOC 2 – Addresses controls relevant to Security, Availability, Processing Integrity, Confidentiality and Privacy of the systems a service organization uses to process users’ data and the confidentiality and privacy of the information these systems process
SOC 2 Type 1
It delivers a detailed report on the suitability of the design controls to a service organization’s system. Especially, SOC 2 Type 1 report is helpful to service companies as it assures the potential customers that the service organization has passed the said auditing procedure on the specified date and their data is safe with them.
SOC 2 Type 2
This report provides a higher level of assurance than SOC 2 Type 1. The SOC 2 Type 2 reports describe the evidence of control measures taken and are evaluated for a minimum of six months to see if the systems and control are in place functioning, as reported by the management of the service organization.
Why SOC compliance is required?
In recent years, security has become a critical aspect for businesses. Whether you store your data in an internal data center or with an external vendor, cyber attacks have become a pressing problem and a real threat to organizations. Also, organizations today are increasingly outsourcing business requirements to a third-party service provider to focus more on core competencies while reducing costs and deploying new application functionality to the business. While this, has helped organizations to reduce costs, but it has doubled the responsibility to keep their customer’s data secure.
Thus, a SOC report can convey security and reliability to customers, who previously spent a lot of time evaluating supplier data practices to ensure they were up to date or not. SOC Audit report can be used to quickly understand how the vendor operates and reduce the burden on the customer’s security operations group.
Why SOC compliance is required?
Determination of Objectives
Depending on the reason for the SOC audit report, the firm needs to understand the objective behind the auditing. It includes some inquiries considering any legal, contractual, or other regulatory obligations that may help to identify what the report is intended for.
Risk Assessment
By performing a risk assessment, the auditor identifies the exact areas where the vulnerability risk is high and what measures should be implemented to control the upcoming threats.
Perform Gap Analysis
Gap analysis helps in verifying which existing policies, procedures of business are already documented and in place. It provides the organization the opportunity to protect the business and implement controls against those gaps. ment of time.
Remediation Consulting
After the gap analysis phase, the first remediation period begins. In this phase, the auditor will help you to close all the identified gaps with dedicated resources. The service auditor will provide valuable, ongoing knowledge sharing with process and control owners throughout the remediation phase.
Performance Tracking
This phase involves a large quantity of documentation. Here, the documents such as policies and procedures are mapped with the control environment to ensure compliance as per the SOC requirements.
Internal Audit
Internal audit is a kind of review program that gives the organization an independent perspective and enables them to be ready for final attestation. At this stage, the client ensures he has implemented the governance system to get the SOC attestation.
External Audit
The AICPA stipulates that only a Certified Public Accountant (CPA) is qualified to perform the external auditing report. The organization can achieve SOC 2 – Type 1 attestation at first and after completion 6 months, the client can achieve Type 2 attestation. The Type 2 report says that all risks are under control and will give adequate assurance to the user entity.
What is ISO 27001?
ISO 27001 is one of the international standards that need to be followed by organizations in order to ensure the security of information assets, whether it is details about the employees, financial information or any other information assigned to an organization by customers, vendors or any other third party. Keeping them secure will be a possibility by following the standards of ISO 27001.
ISO 27001 is the most preferred standard to assure risk management and other security services when it comes to Information Security Management System (ISMS). ISMS include a series of organized approaches and framework in order to ensure that any kind of sensitive information of a company is kept secure and safe. Organizations of varied scale and size can keep their information assets secure with a robust ISMS.
Why Should You Comply with ISO 27001?
Different verticals and lines of business in the domain of Education, Financial Services, Government, Health Care, Hotels, Payment Services, Restaurants, Retail, Information Technology etc. need adherence and compliance to ISO 27001 because all of these fields deal with huge amounts of data which need to be maintained properly because the sensitivity of the information is huge. If this data is accessible or is vulnerable to security breaches then it could have a catastrophic impact financially, legally etc. Strict adherence to the standards of ISO 27001 will ensure that a business is not susceptible to any kind of vulnerabilities which could pose a risk to the information security of the organization etc.
Here are some of the key reasons why adherence to ISO 27001 is imperative.
Proactive risk management helps in ensuring that the information assets are kept secure from any probable threats
Proper remediation services are also available along with threat protection and detection capabilities thereby helping in effective threat management
Distinct segregation of roles & responsibilities for people thereby, assuring effective risk reduction along with a powerful compliance framework
ISO 27001 provides an organization with adequate amount of resources to protect the interests of vendors and customers
Why work with Hackers Crowd for ISO27001 compliance
Hackers Crowd is a leader in compliance and payment securities space. Here are some key reasons why working with Hackers Crowd is a good choice for your company:
Global presence that accounts for presence in over 35+ countries with multiple delivery locations namely in the US, Asia Pacific, Europe, and the Middle East
Already served 2000 plus organizations across various verticals like finance, retail, IT, hotels, banks etc.
With a philosophy of “Security and not only Compliance” our methods will ensure a complete review of all the existing processes to ensure a foolproof safety for information
Round the clock support with state of the art tools which can help you comply with the ISO 27001 framework in the most efficient way
Our Approach
Implementation Analysis
We work relentlessly to understand the context of the business. This helps us identify the relevance and importance of information security for the business.
Proactive Risk Assessment
Proactive Risk Assessment– Hacker Crowd’s Risk Assessment methodologies help in identifying the risks to information assets. We also conduct a gap analysis which can help one identify the vulnerabilities and threats that are present in the immediate environment at an early and nascent stage.
Understanding of ISO 27001 framework
Our team of expert security advisors will help your organization understand the standard of ISO 27001. We will help you decipher the different policies, procedures and documentation associated with the ISO 27001 so that all the principles and requirements are understood by your organization perfectly. We will also help you understand the probable risk and gaps. This is one of the lengthier stages and needs quite some investment of time.
Auditing & Consulting
We will then conduct an internal audit to ensure that ISO 27001 is implemented successfully across the organization. We will also ensure that the principle of ISO 27001 is successfully incorporated into the overall lifecycle of the business
Registration & Certification
Finally, we will help you with the registration process for ISO 27001 certification. This involves the understanding of the different documentation needs along with implementation verification.
Our ISO 27001 Services
Hackers Crowd is a leader in compliance and payment securities space. Here are some key reasons why working with Hackers Crowd is a good choice for your company:
Global presence that accounts for presence in over 35+ countries with multiple delivery locations namely in the US, Asia Pacific, Europe, and the Middle East
Already served 2000 plus organizations across various verticals like finance, retail, IT, hotels, banks etc.
With a philosophy of “Security and not only Compliance” our methods will ensure a complete review of all the existing processes to ensure a foolproof safety for information
Round the clock support with state of the art tools which can help you comply with the ISO 27001 framework in the most efficient way
Whether you are a small scale organization or a large scale enterprise, you should ensure that the medium to a large volume of data that your business handles is safe and secure. Our service of consulting, risk management and auditing can help you identify risks before it converts into a catastrophic error causing data loss, financial loss, harm to your organization’s reputation etc.
Risk Assessment
As online transactions increase their reach and penetration throughout the world today, hackers are perpetually working towards breaching a company’s security measures to protect its assets and that of its customers. To ensure the safety of people from such serious and persistent threats, strict measures should be taken. Hence, it becomes the responsibility of the leaders and managers of the companies to comprehend their current standing, identify the exposure points and manage any security risks so as to protect themselves from harm. Hackers Crowd offers three services under its Risk Assessment portfolio, all of which are invaluable in helping organizations bolster their security measures against invasive threats:
PCI Risk Assessment, Facilitated Risk Assessment, and Breach Risk Assessment .
What is PCI Risk Assessment?
A risk assessment, as required in the PCI DSS, is a formal process used by organizations to identify threats and vulnerabilities that could negatively impact the security of cardholder data. Before any entity initiates PCI Compliance, it has to fulfil the requirements of a formal risk assessment. The PCI DSS Risk Assessment Guidelines provide an approach to analyze the existing security posture of the environment, to deal with the current problems, and to identify the things that could go wrong in the future, since the risks are dynamic in nature- what is applicable today might be rendered irrelevant tomorrow.
The objective of the PCI risk assessment activity is to remove any blind spots and impart clarity through proper threat analysis. Based on the threat intelligence, the customer will be provided with actionable insights that will best suit his/her environment.
What Are The Requirements for PCI Risk Assessment?
These are the mandatory requirements to be met with PCI DSS standard
Assessment is to be done annually, or in any case that involves significant changes being made to card data environment
It should protect from any threats that could surface in the future
It should identify any vulnerabilities and threats to both primary and secondary critical assets
The outcome of PCI risk assessment should be well documented with all the risks identified during assessment
It should have a proper risk mitigation or treatment plan to deal with any emergency
A thorough assessment is to be conducted before outsourcing any portion of the business’ CDE to any third party and take into account the impact it could have on the organization and the credit/debit card information
It should provide a clear situation of the biggest area of weaknesses and the most probable ways through which the weakness can be exploited by a potential threat creator
The Assessment inventory should cover all payment channels including all the assets which can directly or indirectly impact the security of CDE.
What We Do?
We help you identify the precarious risks involved with PCI data and the impact it will have on you if the security is severed in any case
In case you have already met with circumstances jeopardizing your security, our industry experts, who are a part of the PCI industry, will effectively help you to mitigate the situation
We handle the scanning and testing product complexity. We also help our clients overcome any resource constraints and in-house security skill shortage
We provide a two-day Information Security Risk Assessment Workshop, to impart knowledge regarding the security measures, based on the following distinguished methodologies- NIST, OCTAVE, ISO 27005
We are ready with a timely response to any security incidents which occur
We deliver vulnerability management through industry-leading products.
We provide you with automated reports, analysing which will help you in achieving consistency
We find and resolve the liabilities across business applications, databases, and networks
How We Work?
This is the protocol we follow
Half-a-day awareness session: The main objective here is to create awareness among the users regarding the gravity of PCI DSS compliance.
Half-a-day awareness session: The main objective here is to create awareness among the users regarding the gravity of PCI DSS compliance.
PCI DSS Risk Assessment: Next, we conduct PCI Risk Assessment to identify the various points of exposure within the framework and the unique risks which can impact the confidentiality of a cardholder.
PCI DSS Gap Assessment: Then we identify the gaps and loopholes in the infrastructure with respect to PCI DSS 3.2 through PCI DSS Gap Assessment.
What is Facilitated Risk Assessment?
Facilitated Risk assessment is a service offered by Hackers Crowd to help organizations perform Risk Assessment.
Facilitated RA will enable organizations to identify the assets and associated risks
It is an organized way to create and manage all the risk assessments
Can be conducted based on standards such as ISO 27005, PCI DSS, Octave etc.
Enables users to assign risks to respective teams for further handling
Using the tool, users can mitigate risk with one of the following options
– Risk Avoidance
– Risk Transfer
– Risk Treatment
– Risk Termination
Also enables generation of a consolidated report with risk scores for the Risk Assessment conducted
It provides a set of rules to analyze the existing security stance of the environment, to deal with the current problems and to identify the things that could go wrong in the future, since the risks are dynamic in nature – what is applicable today might be rendered irrelevant tomorrow.
What is Breach Risk Assessment?
Breach Risk Assessment is a proactive risk assessment as opposed to a self-check activity performed considering breaches which happened in a similar industry in the past. In this assessment, we take knowledge from our payment forensic learnings and build risk scenarios based on past breaches. The intention behind Breach Risk Scenario is to take a proactive step towards analyzing and protecting the organization.
Why Should Hackers Crowd Be Your Choice?
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It is a colossal challenge to keep continuous track of the activities of systems throughout their lifecycle. The system needs to evolve with time because the risks are evolving too.
And that is where Hackers Crowd comes into the picture. We relieve you of the worries and troubles regarding vulnerability management and security services so that you can pull all your focus towards the core objective of your business. Talk to us today!
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