Organisations unprepared for new EU cybersecurity regulation

Finance, Technology | Wed 20 Jul | Author – Business & Finance
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Organisations will have 21 months to comply with a new European cybersecurity policy or face fines up to €10m or 2% of global turnover.

A new European cybersecurity policy – the Network Information Security (NIS) directive – will become law in August 2016 and sets new security standards for organisations within its remit.

There is also new General Data Protection Regulation (GDPR), with potentially larger fines of €20m or 4% of global turnover.

Both pieces of legislation include mandatory breach notification, meaning organisations need to be able to detect, scope, and report a breach to the competent authority within a short period of time.

Research by the ICTTF shows organisations are not fully prepared for the implementation of this legislation, not to mention the impact of a European cyber regulation landscape now hampered by confusion as to the involvement and interaction a post-Brexit UK.

A briefing for business leaders that are members of Ireland’s Cyber Task Force, and other interested corporates and organisations, will be given in Dublin by Paul C. Dwyer, president of the ICTTF, covering key areas including legislation, practical advice on compliance and post-Brexit issues for Irish and global cybersecurity.

Prominent Cyber Task Force members here include Ryanair, Vodafone, ESB Networks, Virgin Media and Dublin Chamber of Commerce.

The briefing is open to members and non-members of the Cyber Task Force and takes place on Friday, July 22nd from at the Radisson Blu Royal Hotel in Golden Lane, Dublin 8.

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