The European Commission said that EU nations should establish a framework to manage cybersecurity threats at EU institutions amid fears about growing cyberattacks that might interrupt essential activities and gain unauthorized access to sensitive data.
The idea is part of a package of proposed EU executive regulations known as the Cybersecurity Regulation, which also wants to establish a Cybersecurity Board to oversee the new law’s implementation.
In a statement, Budget Commissioner Johannes Hahn said that in today’s linked world, a single cybersecurity event might have far-reaching consequences for a whole company.
A tense moment in history
Hahn emphasized a robust defense against cyber-attacks and disruptive incidents that could cripple the bloc’s ability to respond.
All EU institutions, organizations, and agencies will be required to identify vulnerabilities, develop a strategy to strengthen their cybersecurity, conduct regular assessments, and communicate facts about incidences under the proposed guidelines.
In addition, the Commission suggested an information security legislation, which would provide a standard level of norms and standards for all EU institutions. For weeks, governments have been warning that Russia or its proxies may carry out cyber assaults in retaliation for sanctions.
The warnings have prompted banks to step up their surveillance, strategy development, and staffing if confrontational activity spikes.
Ransomware and denial-of-service attacks that shut down websites, and data deletion and theft, maybe all simultaneously, are among the risks the bloc’s institutions are preparing for.
The bloc has leveled sanctions against Russia during this time, cutting the petrochemical ties both it and Russia need, and strengthened its military posture across individual powerhouses and NATO. In the US, the White House warned businesses of possible Russian hacking attacks after recording an uptick in malicious activity since the invasion began.