Remove Disaster Recovery Remove Service Provider Remove Third-Party Service Provider
article thumbnail

HIPAA Disaster Recovery Planning

VISTA InfoSec

However, ePHI is vulnerable to threats like cyber attacks and natural disasters, making disaster recovery planning (DRP) vital. Healthcare organizations must implement HIPAA-compliant DRPs to protect ePHI, ensuring continued operation during disasters. Why Is Disaster Planning Important for Healthcare Organizations?

article thumbnail

Understanding Risk Management Strategies as a PayFac

Stax

Think of them as service providers that rent their master merchant accounts to their clients. Cyberattacks, human errors, third-party service provider failures, and system disruptions all come under operations risk. This makes it much easier and quicker for businesses to start accepting payments.

article thumbnail

New York Bolsters Cybersecurity Requirements

Global Fintech & Digital Assets

Requirements related to business continuity and disaster recovery have also been included for the first time. The changes impose more demanding requirements for larger entities, new obligations to report ransomware incidents and payments, and expanded oversight responsibilities for board and senior management.