December 6, 2023

What do you mean by ISO 27001?

  1. ISO 27001 – reputable, internationally-recognized standard.

The International Organization for Standardization (or ISO) has been issuing standards since 1946. These standards cover a wide range of subjects, including currency codes and anti-bribery management systems. The ISO standards are widely used in many industries due to their broad scope. The ISO/IEC 27001 standard specifies requirements for information security management systems (ISMS).

  1. ISO 27001 is a security framework that requires controls to be implemented.

Information Security Management System. When creating our Unified Security and Privacy Management Framework, Best Practice considered the ISO standard. This is consistent with other companies’ practices. A 2016 Global Report by IT Governance Ltd. on ISO 27001 found that 77% used ISO controls in addition to those based on other frameworks and standards. Best Practice takes into account laws, regulations, industry standards, and customer requirements when creating the USPMF.

  1. ISO 27001 is a standard for risk management.

Every Information Security Management System must include risk management. The ISO standard is based on a risk-based approach to security. After identifying risks, controls can be selected and implemented to reduce them.

Privacy impact assessments are required by the EU General Data Protection Regulation (EU GDPR), which went into effect in May 2018. These assessments are required for all companies that deal with data from EU residents. They help to identify privacy rights and risks. We are already in compliance with the EU GDPR because we have privacy risk assessments built into our risk management program.

  1. ISO 27001 inspires customer trust.

Our customers can be assured that our ISO 27001 certification is maintained and achieved. IT Governance’s survey found that 56% of respondents use ISO 27001 standards to gain a competitive advantage. This shows how important information security is in today’s interconnected world. We must demonstrate compliance with the strictest information security standards for our customers, which include 45 Fortune 500 companies and 5 of the top 6 US banks.

  1. ISO 27001 assures continuous compliance and improvement.

To maintain ISO 27001:2013 certification, companies need to undergo an annual external review and three-year recertification. During this time they must show continuous improvement in the ISMS. To maintain compliance, companies must adopt the latest revision of ISO 27001:2013 standard when it is published by ISO. Our InfoSec team is driven to excellence in maintaining and implementing the ISMS. We expect our executive team to continue supporting the security function and all of our employees to do their bit by keeping security in mind during their daily activities. Customers are assured that our commitment to confidentiality, integrity and privacy of their data will continue. Independent auditors will further evaluate this statement.

ISO 27001 Benefits

Your organization will benefit from an information security management program that helps to minimize the likelihood of security breaches that could impact legal or business continuity.

A comprehensive ISO 27001 information security management (ISMS), provides a framework of policies and procedures that will help you keep your data secure in any format.

After a string of high-profile cases, it has been proven that information can be very harmful to an organization if it gets in the wrong hands or becomes public. Risks can be reduced by establishing and maintaining a documented management system and controls.

Integration with corporate risk strategies and improved management processes

Although ISO 27001 does not guarantee information breaches will not occur, having a solid system in place will reduce risks and keep costs down.

The ISO 27001 certification signifies that a company has:

  • Protected information is protected from unauthorized access
  • Only authorized users can modify the ensured information.
  • Assessed the risks and minimized the consequences of a breach
  • Independently assessed against an industry standard.