cyber 5.4

After failing a regulatory exam on compliance, an organization looks for methods to systematically assess, evaluate, and report its adherence to laws, regulations, and industry standards. What is a true statement regarding compliance monitoring? Compliance monitoring involves risk assessments, data collection, and analysis. Compliance monitoring provides high-level summaries of an organization's compliance performance. Compliance monitoring facilitates stakeholder communication and decision-making. Compliance monitoring focuses on operational details and supports internal decision-making.

A Diligent monitoring of an organization's actions confirms compliance with legal and regulatory requirements, industry standards, and internal policies. Compliance monitoring involves risk assessments, data collection, and analysis.

A company is very protective of its intellectual material. The fear of a breach by a curious public or competitors is an ongoing concern. As a result, the company put in place a dedicated server containing related highly sensitive data. Apply knowledge of data types and labels and select which type the company is protecting. Proprietary Public Confidential Private

A Proprietary information, or intellectual property (IP), is information a company creates, typically about the products or services it makes or performs.

Which of the following can be consequences of a data breach? (Select the three best options.) Identity theft Escalation Reputation damage Fines

A C D Data breaches can reflect negatively on a business and its ability to protect sensitive consumer information. Breaches can make consumers less likely to use the business again, damaging the company's reputation. Fines are money that a court of law or another authority has levied on a company or a person as a penalty for wrongdoing. Fines are a consequence of data breaches. Identity theft is intentionally using someone else's identity to gain a financial advantage or benefit without the other person's knowledge. Identity theft can be a consequence caused by breaches of usernames, passwords, or personally identifiable information (PII).

A company launches a sweeping compliance monitoring initiative after receiving a failed audit. What are the characteristics of external compliance monitoring? (Select the two best options.) Adheres to regulatory requirements, providing high-level summaries of an organization's compliance performance Serves stakeholders such as risk managers, executives, security analysts, and privacy officers Focuses on operational details and supports the company's decision-making Serves stakeholders such as shareholders, customers, clients, regulators, vendors, and business partners

A D External compliance reporting targets external stakeholders, such as shareholders, customers, clients, regulators, vendors, and business partners. Internal and external reporting forms promote accountability, transparency, and effective organizational compliance management. External compliance reporting adheres to regulatory requirements and provides high-level summaries of an organization's compliance performance.

How do data inventories assist organizations in maintaining records of collected data? It is the comprehensive assessment and evaluation of an organization's data protection practices. It provides a comprehensive overview of the types of handled data. It is an established timeline that requires organizations to keep documentation. It requires individuals or entities to announce their understanding of compliance obligations formally.

B Data inventories provide a comprehensive overview of the types of handled data, the purposes for processing, the legal basis, and the recipients of the data to ensure transparency and accountability.

A big chain store has a class-action lawsuit due to a data breach of private consumer information. The ruling awarded consumers a $3.5 million settlement and levied the chain store with an additional $2.5 million for the infraction. What does the money levied to the chain store represent? Fraud Fines Notification of data breach Disclosure

B Fines are money that a court of law or another authority has levied on a company or a person as a penalty for wrongdoing. Fines are a consequence of data breaches.

An organization evaluates the legal implications of failing to protect privacy data after experiencing a breach. What level of influence does the GDPR have regarding legal implications? Local Global National Regional

B The General Data Protection Regulation (GDPR) in the European Union has had a substantial impact globally by setting high privacy and data protection standards.

After receiving a below-average rating, a board of directors implements holistic compliance monitoring changes. What are some characteristics of internal compliance monitoring? (Select the two best choices.) Provides high-level summaries of an organization's compliance performance and ensures adherence to regulatory requirements Concentrates on operational details and supports the company's decision-making Works to provide service to shareholders, customers, clients, regulators, vendors, and business partners Provides service to risk managers, executives, security analysts, and privacy officers

B D Internal and external compliance reporting aim to assess and disclose an organization's compliance status but differ in scope, audience, and purpose. Internal compliance reporting primarily serves internal stakeholders, such as risk managers, executives, security analysts, and privacy officers. Internal compliance reporting also focuses on operational details and supports internal decision-making.

A board of directors convenes a monthly meeting to discuss reports that the tech department was not meeting legal regulations. What are the impacts associated with sanctions? (Select the two best options.) It can result in a breach or termination of an agreement, or indemnification. It can be overseen by numerous governing bodies, such as regulatory authorities. It can grant certain individuals with the ability to challenge credit data on their personal reports. It can include financial penalties, legal liabilities, and loss of customer trust.

B D Typical ramifications for noncompliance include legal sanctions such as financial penalties, legal liabilities, and loss of customer trust. Sanctions refer to penalties, disciplinary actions, or measures imposed due to noncompliance with laws, regulations, or rules. Sanctions enforcement is the responsibility of governing bodies, regulatory authorities, or organizations overseeing the specific domain in which the noncompliance occurred.

A board of directors receives a memorandum that two departments in the organization violate federal regulations. What could the organization receive that would monetarily impact them if sanctioned? Loss of license Reputational damage Fines Indemnification

C

What describes the impacts associated with contractual noncompliance? It can grant certain individuals to challenge credit data on their personal reports. It can include financial penalties, legal liabilities, and loss of customer trust. It can result in a breach or termination of an agreement or indemnification. Numerous governing bodies, such as regulatory authorities, can oversee the organization.

C Contractual noncompliance occurs when organizations fail to meet agreed requirements, possibly resulting in a breach of contract, termination of the contract, or indemnification.

A new tech firm creates measures to ensure it adheres to all compliance and data privacy aspects. What describes the comprehensive assessment and evaluation of an organization's data protection practices and measures? Data inventories Attestation and acknowledgment Due diligence Data retention

C Due diligence in data protection describes the comprehensive assessment and evaluation of an organization's data protection practices and measures.

A software technician develops a new procedure to safeguard privacy data and ensure all groups adhere to compliance mandates. What BEST describes due diligence? It is an established timeline that requires organizations to keep documentation. It requires individuals or entities to formally announce their understanding of compliance obligations. It provides a comprehensive overview of the types of handled data. It is the comprehensive assessment and evaluation of an organization's data protection practices.

D

When evaluating privacy laws, what provides a comprehensive overview of the types of handled data? Data retention Attestation and acknowledgment Due diligence Data inventories

D Data inventories provide a comprehensive overview of the types of handled data, the purposes for processing, the legal basis, and the recipients of the data to ensure transparency and accountability.

Hackers infiltrated a home furniture store's network six months ago. The hackers obtained customer information, including account and payment data. Since the breach, sales have decreased, and customers have closed accounts with the store. Which of the following consequences is a direct result of the breach? Identity theft Fines Escalation Reputation damage

D The store is most likely suffering from reputation damage. Data breaches can reflect negatively on a business and its ability to protect sensitive consumer data. In turn, this makes consumers less likely to use the business again.