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Compliance not just as a necessity, but as an opportunity
EU cybersecurity legislations like DORA, NIS2, and the Cyber Resilience Act are necessary to create a more resilient digital ecosystem, protect consumer data, maintain market integrity, and promote international cooperation. As cyber threats grow increasingly sophisticated, these legislations ensure that organizations implement strong security measures to protect their data, networks, and critical operations.
Complying with EU cyber security legislation, however, goes beyond the fear of hefty fines, legal penalties, and significant financial losses. Strengthening of cyber security is much more a strategic decision that builds trust with customers, partners, and stakeholders by demonstrating a proactive commitment to protecting sensitive data and ensuring business continuity. In an increasingly interconnected and data-driven economy, compliance with EU cybersecurity regulations is essential for maintaining a competitive edge and long-term success while safeguarding the integrity of business operations.
Test your compliance with our readiness questionnaires
OVERVIEW
The Network and Information Security (NIS) Directive is the first piece of EU-wide legislation on cybersecurity. Its specific aim is to achieve a high common level of cybersecurity across the Member States.
OBJECTIVES
Creates cyber crisis management structure; Increases harmonization regarding security and reporting; Encourages Member States to address new areas; Introduces peer reviews; Expands the directive’s scope.
TIMELINE
Member States have 21 months (until 17 October 2024) to transpose NIS2 measures into their national legislative frameworks.
OVERVIEW
The EU Digital Operational Resilience Act (DORA) is a regulatory framework designed to strengthen the digital operational resilience of the financial sector within the European Union.
OBJECTIVES
Enhance Resilience; Harmonize Requirements; Strengthen Oversight
TIMELINE
DORA is expected to be fully implemented by financial institutions across the EU within the specified timeframe, with organizations required to comply by 17.01.2025. Early preparation is crucial to meet the comprehensive requirements of DORA.
OVERVIEW
The CRA aims to enhance the cybersecurity of products with digital elements, such as software and hardware, sold within the EU. It addresses two main issues: 1. Inadequate cybersecurity in many products. 2. Lack of transparency for consumers and businesses regarding the cybersecurity of these products.
OBJECTIVES
1. Cybersecurity by Design: Manufacturers must integrate cybersecurity measures throughout the product lifecycle, from design and development to maintenance. 2. Lifecycle Security: Manufacturers are required to provide security updates and support throughout the product’s lifecycle. 3. Transparency: Consumers and businesses must be provided with sufficient information about the cybersecurity of the products they purchase.
TIMELINE
The CRA is set to enter into force in the second half of 2024, with full compliance required by 2027.
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