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Offshore Finance and NIST.. what you need to know

Updated: Jun 24

The Offshore Finance Industry within the Channel Islands enjoys global acclaim, in part due to its world class regulatory bodies. To further enhance this leading position, in Q3 2020 the GFSC are to due to release regulations for the management of Cyber Security, a position other regulators are very likely to follow.

It is anticipated that the GFSC will take a pragmatic decision and adopt an existing, working framework, NIST, published by the US National Institute of Standards and Technology in 2014.

The NIST Cybersecurity framework requires 5 key areas to be addressed to ensure the effectiveness of your approach to cyber risk management, these are; Identify, Protect, Detect, Respond and Recover.

Whilst beneficial, the Regulatory and Management reporting for NIST is arduous and a significant challenge for all, especially the SME community where the cost justification to procure the professional tools required and the dedication of skilled resource is an assault on the bottom line.

WSD delivers a cost effective, managed service, avoiding capital cost and ensuring optimum performance, Overwatch. Designed from conception to meet and or exceed the regulatory requirements of the NIST framework, Overwatch is scalable from a small business, to multi-site, to enterprise, with little or no capital expenditure, or negative impact upon internal resource.

Overwatch integrates with your existing cybersecurity defences to enhance your network PROTECTION. It IDENTIFIES all assets within your network constantly interrogating all internal and Internet traffic. Extensive monitoring enables the early DETECTION of compromise, permitting automatic RESPONSES from combined Artificial Intelligence and (human) Security Analyst escalation, to meet the external threat, helping you to RECOVER quicker.

We are ready to provide you with NIST compliance today, 24x7x365, cost effectively, with optimum security performance, if you would like to learn more about how we can help you to steal a march on your competition please contact us.


#NIST #cybersecurity #offshorefinance

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