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Cyber solidarity act

Briefing 13-02-2024

Russia's war against Ukraine has revealed the extent of our dependency on digital technology and the fragility of the digital space. It has triggered a surge in cyberattacks that have been particularly disruptive when targeting critical infrastructure – such as energy, health or finance – because of the increasing reliance on information technology, rendering this infrastructure all the more vulnerable. Against this backdrop, the Commission has proposed a regulation on a cyber solidarity act that ...

The 2014 Regulation on electronic identification and trust services for electronic transactions in the internal market (eIDAS Regulation or eIDAS) was the first digital identity legislation to pave the way for cross-border electronic identification, authentication and website certification across the EU. While the application of eIDAS has had a mixed record, the pandemic has fuelled demand for eIDAS solutions that are capable of ensuring broader access to public and private services. On 3 June 2021 ...

Cybersecurity actors in the EU

Glaustai 09-01-2024

Cyberattack numbers have surged in recent years, leading to the formation of entities at all levels to prevent attacks or mitigate the harm they may cause. An efficient EU-level response requires coordination and the timely exchange of information. Several bodies and networks have been set up to this end; this paper explains their respective roles.

EU cyber-resilience act

Briefing 28-11-2023

New technologies come with new risks, and the impact of cyber-attacks through digital products has increased dramatically in recent years. Consumers are increasingly falling victim to security flaws linked to digital products such as baby monitors, robo-vacuum cleaners, Wi-Fi routers and alarm systems. For businesses, the importance of ensuring that digital products in the supply chain are secure has become pivotal, considering three in five vendors have already lost money owing to product security ...

In an increasingly challenging geopolitical environment, the notion of economic security is gaining traction. The May 2023 G7 summit produced, for the first time, a dedicated statement on the topic and the EU adopted its first strategy in June 2023. G7 countries are also expanding the range of measures tackling complex security risks.

The digital transformation is making the EU institutions and administration more vulnerable to cyber-threats and incidents. Their number has surged dramatically in recent years: there were as many incidents during the first half of 2021 as in the whole of 2020, for instance. Yet an analysis of 20 Union institutions, bodies and agencies showed that their governance, preparedness, cybersecurity capability and maturity vary substantially, weakening the system. This proposal for a regulation would establish ...

In view of the rising frequency and sophistication of cyber-attacks hitting United States (US) targets and entailing widespread disruption of critical infrastructure, significant economic loss, and sensitive content and personal data leaks, the Biden administration has taken a series of steps to bolster the US cybersecurity posture since early 2021. Adding to President Biden's 2021 Executive Order on cybersecurity and 2022 Congressional legislation, the 2023 US National Cybersecurity Strategy lays ...

The recent launches of artificial intelligence (AI) tools capable of generating direct textual answers to questions, notably the chatbot ChatGPT, and the development of general-purpose AI technologies, are expected to revolutionise the application of AI in society and the economy. New AI tools in general offer massive potential for developments in industry, agriculture, health, education and other areas. However, many scientists and politicians are calling for the establishment of a legal and ethical ...

This briefing has been prepared for the public hearing with the Chair of the ECB Supervisory Board, Andrea Enria, in ECON on 21 March 2023, covering: • A European perspective on recent US bank failures, in particular Silicon Valley Bank • SREP results for 2022 • Supervisory Banking Statistics • EBF-commissioned study on the cost of regulation for EU banks • EBA 2023 EU-wide stress test scenario • ECB sanction for failing to report cyber incident within deadline • Enhanced Code of Conduct ...

The Network and Information Security (NIS) Directive is the first piece of EU-wide legislation on cybersecurity, and its specific aim was to achieve a high common level of cybersecurity across the Member States. While it increased the Member States' cybersecurity capabilities, its implementation proved difficult, resulting in fragmentation at different levels across the internal market. To respond to the growing threats posed with digitalisation and the surge in cyber-attacks, the Commission has ...