A Changing Cyber Security Landscape

Alex van der Wolk recently spoke with Financier Worldwide about the changing landscape of cyber security. Discussing the level of threats faced in The Netherlands, Alex commented:

“The magnitude of cyber security threats is significant for companies in general, and the Netherlands in particular, due to the war in Ukraine and the fact that the Netherlands is a hub into Europe, including via infrastructure such as the port of Rotterdam.”

Further, when asked about how companies are handling more stringent regulatory requirements, Alex said:

“Compliance requirements depends on the type of company and the regulatory regime they are subject to. For companies subject to NIS2, most cyber security control requirements align with the cyber controls they already have in place. NIS2 requirements in that regard are relatively high level and mostly principle-based, which makes them easier to map against existing cyber control frameworks. For companies in the financial sector and subject to DORA, it is more challenging, because DORA is much more prescriptive than NIS2, making it more time consuming to map. The more challenging parts of the new cyber regulations regard red tape as well as the integration of notification obligations in existing incident response plans and protocols. Because triggering factors and thresholds for notification differ from the likes of the GDPR, most companies need to adapt their incident response plans to avoid under- or over-notifications.”

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