European Union Commission Warns Of Massive Cyber Attacks, Security Must Be Enhanced

JAKARTA - EU countries should implement a framework for managing cybersecurity risks in EU institutions. This was proposed by the European Commission said on Tuesday, March 22, amid concerns about increasing cyber attacks that could disrupt key activities and threats sensitive information theft.

The proposal is part of a package of draft rules by the EU executive called the Cybersecurity Regulations. This rule also aims to create a Cyber Security Council to monitor the implementation of the new rules.

"In a connected environment, a single cybersecurity incident can affect an entire organization. This is why it is so important to build strong shields against cyberthreats and incidents that can undermine our capacity to act," said EU Budget Commissioner, Johannes Hahn, in a statement, quoted by Reuters.

Under this draft rule, all EU agencies, bodies, and institutions must identify cybersecurity risks. They should also make plans to improve their cybersecurity. It is even required to carry out regular assessments and share details about incidents.

The Commission also proposed an information security regulation that would establish a set of minimum rules and standards for all EU institutions.

Governments in the EU have warned for weeks that Russia or its allies could carry out cyberattacks in retaliation for sanctions. Usually, these attacks are directed at banks. So banks are asked to increase monitoring, scenario planning, and prepare additional staff if hostile activity spikes. Read more

Earlier this month, EU ministers called for the creation of a cybersecurity emergency response fund to counter large-scale cyberattacks. Attacks can occur from any party or any country.