The European Commission recently announced a proposal for the EU Cyber Solidarity Act promising €1.1 billion that would help establish a “European cybersecurity shield”. This new measure would further strengthen cybersecurity capabilities between EU member states and provide the necessary resources to detect and respond to cyber threats. By introducing national and cross-border security operation centers (SOCs) the EU Cyber Solidarity Act would help to identify and share warnings across the continent of cyberattacks.
This new plan has been prompted due to increasing geopolitical tension because of the Russia-Ukraine war and its effect on the private and public sectors of European countries. Therefore, the Commission has proposed that addressing these cyber threats should be seen as an international security concern. Commissioner for Internal Market, Thierry Breton praised the proposal as a “critical milestone in our journey towards achieving this objective” of cyber security.
Although the Cyber Solidarity Act has been well received by some, there is still the need to set a standard for defining cyber risks. Security Scorecard’s Senior Government Affairs Director for Europe and APAC, Dan Morgan commented on its welcome but urged the European Union to consider featuring cyber-risk ratings as part of the list of certified trusted cybersecurity providers.
The European Parliament and Council will now decide if they want to go forward in supporting the proposed Act but regardless this highlights that cyber-resilience is a priority. It is important to note that the new security measures should not be seen as a substitute for digitalization or investment in the latest technology but should be taken as the essential element in digital transformation that it is.
Security Scorecard is an American-based cyber security rating platform. It ensures organizations can securely assess their digital footprint and understand across different sectors and locations. Security Scorecard provides data-driven insights that inform business decisions and help protect organizations from cyber threats. The team provides solutions for risk and security professionals to assess and manage their IT security posture.
Thierry Breton is the Commissioner for Internal Market of the European Commission. He is a French politician and entrepreneur and is a member of the administration of President Emmanuel Macron. Prior to his role in the commission, he served as the French Minister of Economy, Finance and Industry. Breton has always been a strong proponent for European innovation and digital transformation. He is well known for his standpoints on data protection and digital security.
