The Dodd-Frank Act

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1. Dodd-Frank Act: The Dodd-Frank Act which is known in full-form as Dodd-Frank Wall Street Reform and Consumer Protection Act is a type of United States federal law which will define regulation of the financial industry within the perimeter of the federal agencies. The legislation that was defined way back in July 2010, which can avoid the significant financial crisis by defining new financial regulatory methodology which can insist clarity and authorization while defining rules for protecting the financial data of several users. The Dodd-Frank Act is adopted by most of the investment banking organizations across the world. 2. Payment Card Industry Data Security Standard (PCI DSS): PCI standards talks about defining security guidelines and…show more content…
. 3. Health Insurance Portability and Accountability Act (HIPAA): HIPAA talks about the security policies/guidelines to be followed in order to protect the patient data against various security threats/breach in the organization. The Health Insurance Portability and Accountability Act (HIPAA) which was defined in way back in 1996 that was implemented by United States Congress and the bill was passed by president Bill Clinton in the year 1996. HIPAA was initially known as Kennedy-Kassebaum Act or it`s known as Kassebaum-Kennedy Act. HIPAA policy is divided into several titles. The title 1 of HIPAA will secure health insurance for various employees and their relevant families when the employees lose or change their specific jobs. The title II of HIPAA is also known as Administrative Simplification Specification (AS), which will require the standardization of various national standards for secured electronic healthcare data transactions and national identifiers for various providers, health insurance plans and organizations. The official HIPAA privacy rule was first published on April 14, 2003 that had one-year validity with certain schemes.…show more content…
Federal Information Security Management Act (FISMA): The Federal Information Security Management Act is the standard introduced in the year 2002 as United States federal law that was demonstrated in the year 2002 as the Title III of the E-Government Act of 2002. The FISMA standard was identified as one of the important standard of information security in order to maintain the economic and national security data confidential in United States. FISMA standard will prompt each federal agency to plan, create and deploy the specific global agency program that defines the information security standards for maintaining the confidentiality of information and information systems which will support wide range of different operations related to agencies. FISMA has brought a great change with several federal agencies to address the problems related to cyber security issues. FISMA act gives a great importance to risk based rules that helps in defining cost-effective security solutions to the organization. FISMA standard should be executed with the help of senior security officials, chief information security officers and security director who can help to conduct different annual reviews of the organization`s information security program and produce the report in front of management about its findings. The management will use this data in order to identify different security loopholes and apply the proper security measures in order to make the organization security compliant. It`s
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