Press Room – Information Security and Data Privacy – w1#0816

1. Europe is preparing to make a monumental decision on the future of the internet

“In October, the European Parliament voted on network neutrality rules for the European Union. Now regulators are writing guidelines to determine how the law will be applied in practice. These guidelines could secure net neutrality in Europe – if regulators use them to close potential loopholes in the law.”

Europe is currently weighing up the future of the internet of the continent.

A European Union regulatory body is to wade through a staggering 400,000 submissions from the public following a consultation about the EU’s new telecoms regulation.

At stake is the thorny issue of net neutrality.

Simply put, net neutrality is the principle that all data on the internet should be treated equally by carriers and ISPs; companies cannot pay more to have their data reach users faster, and carriers cannot charge for “fast lanes,” if net neutrality is enforced.

2. Preparing for new EU cybersecurity rules and regulations

Recently, the European Parliament signed off on its first ever set of cybersecurity rules. The Network and Information Security (NIS) Directive spells the end of more than three years of political bickering and requires critical national infrastructure operators, such as banks, healthcare, transportation, energy and digital service providers, to ramp up their security measures and report major data breaches.

The directive is poised to establish the first set of baseline cyber-security and breach reporting responsibilities in the European Union and will specifically require the implementation of measures that are proportionate to today’s cyber risks and will minimise the impact of modern-day security incidents.

This will work in tandem with the EU’s General Data Protection Regulation (GDPR), which will also force companies to tighten up their security with the threat of hefty fines and the small breach disclosure window. However, while the GDPR requires notification of a breach only when there is a risk to personal data, the directive takes things one step further, mandating operators to notify authorities whenever there is an impact on the provision of its service. The directive ultimately aims to improve security defences and knowledge sharing of today’s cyber threats.

What we often find is that those managing critical national infrastructure are relying on security strategies that are out of date and becoming increasingly obsolete. It is a dangerous misconception to think that using point-based perimeter tools, such as anti-viruses and firewalls are sufficient, especially when it comes to these industries that have such a huge impact on a country’s economic stability and development.

Critical national infrastructure needs security intelligence, which ensures that all systems are continuously monitored so any type of compromise can be identified and dealt with as soon as it arises. Indeed, critical national infrastructure operators tend to be controlled across a variety of geographic locations, therefore, having a centralised system that can provide full visibility across all IT network activity in real-time is vital for the management of security.

Critical national infrastructure will continue to be a top target for hackers, and we cannot afford to have any sector not know if they can stay safe. Only by taking an approach capable of monitoring and analysing network activity in real-time can sophisticated attacks attempting to control critical national infrastructure and, more specifically, SCADA systems, be effectively detected, remediated and correctly mitigated before any significant damage is done.

3. France serves notice to Mircosoft on data tracking

France’s National Data Protection Commission said in a statement it had given Microsoft three months to comply with the French Data Protection Act to ensure user data security and confidentiality

4. 2016 Cost of Data Breach Study: Global Analysis

IBM and Ponemon Institute are pleased to release the 2016 Cost of Data Breach Study: Global Analysis. According to our research, the average total cost of a data breach for the 383 companies participating in this research increased from $3.79 to $4 million. The average cost paid for each lost or stolen record containing sensitive an confidential information increased from $154 in 2015 to $158 in this year’s study

 

5. ISITC Europe Proposes 10 Blockchain Standards Benchmarks

he European branch of the International Securities Association for Institutional Trade Communication (ISITC) has proposed 10 blockchain benchmarks it believes will help standardize the increasingly diverse set of blockchain tools currently available on the market.

6. Russian Regulator Intends to Allow Bitcoin Buying and Selling Abroad

An official from Russia’s Ministry of Finance has indicated the financial regulator now supports changes to a proposed law that would still ban bitcoin domestically but carve out provisions for its use as a foreign currency.

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