SECURITY IN THE DIGITAL AGE Europe at a crossroads

Cybersecurity in the digital age: a global overview

The pitfalls of the digital revolution Thanks to the Internet, connecting people across the world has never been as easy as it is today. However, this relatively new way of living (always accessible, everywhere and at every moment) has brought to light many new problems in terms of security, specifically cybersecurity. The World Economic Forum has included cyber-attacks among the biggest problems over 2019

Many consequences and risks from cyber threats Baltimore: government computers crippled by attack as hackers demand bitcoin Attack on city computers prevents employees from sending email and knocked out bill pay websites, as hackers demand $76,000 The Guardian, 22 May 2019 Consequences and risks Compromising of private data Costly recovery data expenses Weakened client trust Financial losses Critical system disruption Reputational damage Theft and fraud Hackers could control NHS medical aids Hospitals have been warned about security flaws in medical devices used by the NHS that could allow hackers to disable intravenous pumps or change doses. The Times, 17 June 2019

Global cyber attacks trends 1,552 serious attacks were recorded in 2018. Cybercrime is the first cause of serious cyber-attacks at a global level. Malware is the most widespread technique of attack, accounting for a total of over 800 million attacks in the third trimester of 2018 (McAfee, 2018) Cyberattacks occurring worldwide (2014-2018) Source: Clusit 2019

The financial costs of cybercrime for large companies The global average cost of cybercrime for large companies climbed to $13 million in 2018, with an increase of 12% from $11.7 million reported in 2017, and 72% in the last five years*. Cost of cybercrime (2018) Banking and utilities industries continue to bear the highest costs from cybercrime. US companies incurred the highest total average cost at $ 27.4 million, followed by Japan. Source: Accenture and Ponemon Institute, 2019 *The Cost of Cyber Crime Study surveyed 2,647 security and IT professionals in 355 large companies in 11 countries: Australia, Brazil, Canada, France, Germany, Italy, Japan, Singapore, Spain, the United Kingdom and the United States.

Cybersecurity in Europe

Experience and awareness of cybersecurity in Europe Europeans feel increasingly exposed to the risk of falling victim to cybercrime. For this reason, a lot of Internet users in European countries use identification procedures for online services. According to the Global Cybersecurity Index, in 2018 six European countries were among the top ten most committed countries globally. United Kingdom US France Lithuania Estonia Singapore Spain Malaysia Norway Canada Source: International Telecommunication Union (ITU) Source: Eurostat, 2019

The European Regulatory Framework: a roadmap

The many european initiatives on cybersecurity 2013 EU Cyber-security Strategy 2015 European Agenda on Security 2016 Directive 2016/1148 (NIS Directive) 2017 Strategic Plan for Cyber-security Mar 9 2019 Horizontal sanctions regime to counter cyber-attacks Mar 12 2019 EU-China: A strategic outlook Mar 19 2019 Regulation 2019/452 (on screening of foreign direct investments) Mar 26 2019 Recommen-dation on cyber-security of 5G networks Apr 17 2019 Regulation 2019/881 (on ENISA and information and communications technology cybersecurity certification)