FIPS Definition

Becoming compliant with FIPS which stands for Federal Information Processing Standards that are recognized all around the world for companies that keep sensitive data created by the National Institute of Science and Technology (NIST) to ensure government information is protected. Within these regulations you are required to follow specifications for information processing systems used by federal government agencies and their contractors.

Owing to this there are numerous regulations to wrap your head around and to be clued in something like cryptographic algorithms, data interchange format and more; to name one there is FIPS PUB 140-2 that require cryptographic modules to protect sensitive data outlining criteria for storage, implementation, testing of such algorithms, ensure the system to meet rigorous security standards.