For your initial post, discuss the topics below. Respond to posts from other students.
Law and Regulation vs Innovation –
Examine and describe in your own words at least 3 US government regulations that can compel business organization to manage their cybersecurity at a certain level. Why are these regulations necessary?
Examine and describe in your own words possible conflicts between government regulation for cybersecurity and technology innovation. Which US industries are now falling behind similar technology industries in other countries because strong US government regulations may be slowing down US innovation? Describe the technology products that are affected by regulation.
Sample Solution
1. The Federal Information Security Management Act (FISMA) of 2002: This law requires all federal government agencies to develop, document, and implement an information security program that follows specific guidelines for protecting sensitive information. It also mandates annual testing and evaluation of the effectiveness of the programs, which must be reported regularly to Congress. FISMA is necessary because it helps ensure that government data remains secure from malicious actors or accidental exposure or loss.
2. The Health Insurance Portability & Accountability Act (HIPAA) of 1996: This law requires healthcare organizations to maintain a high level of cybersecurity in order to protect patients’ personal health information (PHI). HIPAA applies not only to traditional medical providers but also any individual or organization that works with PHI such as employers, insurance companies, educational institutions, and more. HIPAA regulations are important because they help safeguard patient privacy and ensure that their sensitive data remains secure from unauthorized access or use.