Discussion on implementing the NIS Directive and enhancing competitiveness

Udo Helmbrecht met together with representatives from the political and business sphere including Saskia Esken (MP,SPD), Bodo Meseke, (Ernst & Young), Prof. Dr. Michael Waidner, (Director, Fraunhofer SIT) and Olaf Siemens (DCSO) to discuss on  ‘New European rules on IT security - new demands on the business’ at the Berliner Digital Dialog.
Udo Helmbrecht shared insights into the costs caused by cyber-attacks. Determining the real economic impact of incidents on EU’s economy can help in defining proper, coherent and cost effective mitigation policies.  Costs can reach up to 1.6% of GDP in some EU countries[1] while for the global economy, loss is estimated between 330 to 506 billion euros[2]. Finance, ICT and energy sectors display the highest incident costs.
The requirements deriving from the NIS Directive for industry and what is expected from Digital Services Providers (DSPs) and Essential Service Operators (ESOs) – from the energy, banking, healthcare, transport sector - on incident reporting were discussed. Furthermore, the contribution of standardisation strategies was looked into as a component to increase EU competitiveness, trust, provide a functional operational framework for emerging technologies, and ultimately security.
“Many of the most costly attacks are considered to be insider threats. It is important to protect our industry and preserve the smooth functioning of the internal market and our economy.  The provisions of the NIS Directive can act as a tool for businesses, for improved risk management and more resilient operation systems” commented Udo Helmbrecht.
 


[1] Cost of Cyber Crime Study: France, Ponemon Institute, 2014


[2] Net Losses: Estimating the Global Cost of Cybercrime, McAfee, 2014


 
 
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