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Both the U.S and EU are looking to regulate the developers of ICT to better manage the cybersecurity of their products and services. Closing the gaps in product security that have not always been intentionally left open.
Cybersecurity has been an issue and concern for many years, with few commercial industries demonstrating that they have been able to manage cyber appropriately. Regulations such as FISMA has ben a U.S Federal requirement since 2002, the DOD DFARS program since 2017, GDPR, EN NIS 1, the list is long.
The past year has seen a rapid rise in successful cyber attacks across all industry sectors, in part due to the ‘it won’t happen to me’, lack of investment and development of a cybersecurity sector for many countries. Issues that are now starting to catch up on us all and have led in part to cyber regulation.
One suspects that it will take legal action for failing to comply with regulation before many firms focus on solving the problem. A problem that 99% of organisation cannot afford to implement, and insurers cannot manage.
Ted Dziekanowski
#cybersecurity #cyberriskmanagement #cyberregulation #cyberlaw
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