With the rise of data security incidents, businesses are encouraged to maintain a Written Information Security Plan (WISP). A WISP protects businesses and clients, offering a structured response framework for security breaches and other disruptions like natural disasters or theft.
A well-designed WISP should be tailored to a company's size, activities, and sensitivity of customer data, focusing on three key areas: employee management and training, information systems, and identifying and managing system failures. It's also important to understand post-breach responsibilities when building a WISP.
Key Elements of a WISP:
- Employee Management & Training
- Information Systems
- Detecting & Managing Failures
Requirements for a WISP:
- Assign one or more employees to manage the security program.
- Identify and assess risks to customer information and evaluate the efficacy of current safeguards.
- Create, monitor, and update a safeguards program.
- Choose service providers capable of implementing robust security measures.
- Update the plan periodically, reflecting changes in business operations.
Tips for Maintaining a WISP:
- Store the WISP in an accessible format (PDF/Word) and provide training to employees.
- Regularly review and update the plan as business circumstances change.
- Develop a data theft response plan and consult the FTC's Data Breach Response Guide for more guidance.
The IRS has also provided a plain language WISP sample for guidance, available on IRS.gov.
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