Published 2024-11-15 15-54
Summary
New IT compliance rules for financial institutions by 2024-2025 require enhanced governance, cybersecurity, and risk management. AI is transforming GRC. Stay ahead with Critical Update’s expertise.
Article
As IT compliance regulations evolve, financial institutions face new challenges. By November 2024, Joint Standard 1 of 2023 requires robust IT governance and risk management. This means active oversight of IT risks and data protection at the governance level.
Looking ahead to 2025, Joint Standard 2 of 2024 mandates enhanced cybersecurity measures, including vulnerability assessments and penetration testing. These aren’t optional – they’re essential for cyber resilience.
Financial institutions must also align with FSCA and PA guidelines under the Financial Sector Regulation Act of 2017. Staying current with these rapidly changing requirements is crucial.
AI is transforming Governance, Risk, & Compliance \(GRC\), automating risk assessments and improving compliance violation detection. This shift allows for better alignment of security strategies with business goals.
Critical Update can help navigate these complexities, ensuring your systems remain compliant while future-proofing your cybersecurity and governance model. Don’t just react to regulations – get ahead of them with our expertise.
For more about the Critical Update’s services, talk to Luis at
https://linkedin.com/in/thecriticalupdate.
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Keywords: cybersecurity, IT compliance, Financial cybersecurity, GRC transformation