New European Union regulations could see a legal requirement for thousands of private and public businesses to report online breaches to an official body.
The need to build a global cyber defence alliance has been highlighted as a priority for European nations and as part of the international effort to protect against cyber crimes the EU has announced that member states could be legally required to publicly report online attacks and compromises. Each nation would employ an emergency response team who would handle the reported breaches. Whether the reports were publicised would be in the hands of these EU teams.
The proposal has been created in the hope that a greater awareness will aid the defence and repair strategies of businesses and organisations worldwide. The proposal will however cause controversy amongst many who fear that reporting attacks could potentially put their reputations at risk. The emergency response teams would also have the ability to fine companies who have not employed adequate web security systems. The rules would see financial implications as well as the public reputation fears.
Only half of all UK businesses have an IT security policy, the new rules would see it imperative that all businesses introduced and complied with a policy that met EU regulations.