Call us now:
When one considers the number of companies in the EU and US that are impacted by cyber regulations as apposed to data protection. Regulations such such as NIS 2, DORA, the SEC Final rule, HIPAA, NYDFS and CMMC to name a few, we have to be conscious of the role that cyber regulation now plays in international trade and competitive differentiation, over and above its role in national, economic and social security. We have to be conscious of the role cyber regulation also plays in setting the baseline legal and compliance standards required by covered organisations. Legal and compliance standards that come with civil and criminal penalties.
To set the cyber essentials conversation in context, one reads the recent submission by the German government for EU NIS compliance. The government states that the average costs of cyber damage to its economy is approximately EUR 210 Billion, or EUR 500,000 per company. That one could assume is similar for UK companies.
https://lnkd.in/erZ4zNSy
Germany alongside 26 other EU member states is adopting NIS 2 and DORA. Setting out legal requirements for German CNI providers and FI to adopt cybersecurity risk management. Adoption that comes with civil and criminal penalties for non compliance. Or the U.S DoD that’s deployed DFARS cybersecurity requirements and recently adopted CMMC, requiring a certificate of compliance to 110 cybersecurity practices. The UK feels that with a take-up rate of 1%, cyber essentials with its minimal approach to cybersecuirty is adequate.
One wonders if waiting for the UK to announce its cyber strategy would have been a good use of time?
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan
Veritas GRC
#cybersecurity #cyberriskmanagement #cyberattack #cyberessentials
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