The EU Directive NIS 2 obliges thousands of companies in Austria to provide more cybersecurity. In addition, the Member States are obliged, among other things, to define national cybersecurity strategies.
Implementing the directive’s measures could reduce the damage from similar incidents, such as the CrowdStrike outage in mid-July, said cybersecurity expert Marc Nimmerrichter. “NIS 2 is the requirement to wear a seatbelt in cyberspace,” he likens the law to protecting yourself.
“Necessary and sensible”
Until now, it was up to companies to implement risk management measures or accept the risk. The EU directive is therefore “necessary and sensible” because disruptions would not only affect one company, but rather the entire supply chain and, especially in the critical infrastructure, a domino effect would occur, says Nimmerrichter of the IT security company Certitude.
Although the requirements have not yet been implemented in Austrian law, it is clear that companies, especially larger ones, are investing in cybersecurity because of these regulations. Measures in this area usually require months of preparation. “Companies need to take action,” advises Nimmerrichter.
No one has access everywhere
For businesses, the directive would mean, among other things, that in the future “nobody will have access anytime, anywhere, not even the CEO – that is too big a security risk.” Medium-sized (50 or more employees or an annual turnover and an annual balance sheet total of more than ten million euros each) and large companies in various sectors are affected. Small businesses can be affected if they operate in a digital infrastructure.
It is questionable whether the NIS 2 Directive will be transposed into Austrian law by 17 October 2024, as the EU intended. In early July, a bill failed to obtain the necessary two-thirds majority in parliament.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
