What You Need to Know About the European Unions New Cybersecurity Commission
As the world deals with the increasing risks and incidents involving cybersecurity, both governments and corporations are increasing their efforts to be prepared. Recently, the European Union (EU) has stepped up its efforts with the creation of a new Cyber Security Commission that will focus exclusively on the issue. Cybersecurity awareness is a key component in the battle for web-based protection, and these steps by the EU show a necessary and long-term commitment towards the matter.
With cyber-based volatility throughout the European Union as an evolving and multi-faceted threat, being in a partnership is critical in preparing to face the threat. The Union is a geographically wide-ranging hodgepodge of nations that all have their own very specific threats and cybersecurity issues. Something that threatens, say, Portugal may be completely off the radar to a country such as Bulgaria. However, multi-national corporations span the entire globe its continents, and governments may find that by sharing information and creating consistent databases, yesterday's problem in one corner of the EU may very well hold the answers to tomorrow's in another.
80% of companies in Europe experienced at least one cybersecurity event in the last year, resulting in a huge economic impact. In response, the EU Cybersecurity Commission is targeting specific proposals and steps to be taken through 2020. Some, like creating a public-private partnership (PPP) for businesses and governments, are overdue measures that, if done properly, can have a lasting impact. Similarly, cooperation created and established by the commission throughout the EU will improve response and recognition timeframes for cyber threats as they develop.
Already the commission has accomplished much. The NIS Directive, one of the first pieces of EU legislation based exclusively on cybersecurity awareness, is a major directive intended on bringing all EU states up to an identical level of security capability. In doing so, the NIS directive looks to enhance the region's ability to share and process threat information. The EU commission has also taken the always important step of allocating funds for better training, better systems, and better overall awareness throughout the EU.
By taking these steps, the EU commission on cybersecurity is establishing systems similar to that of NC4 Mission Center™ Cyber Threat Exchange. Platforms that assist in disseminating information and sharing knowledge will be critical in approaching threats that evolve in a quick, and worldwide manner. According to the EU, estimates on the size of the growing global cybersecurity market look to be in $80-120 billion by 2018. And, with good reason.
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