Cybersecurity for Businesses Risk intelligence Risk management NIS2 Directive

Compliance with the NIS2 Directive: What Can EU Businesses Do? [Part 2]

By PRODAFT Team on June 25, 2024

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Compliance Should Be Proactive, Not Forced: Choosing Risk Intelligence That Matters

Has your company ever been the victim of malicious activity? Did you see the name of your company in the news headlines that the website or accounts were hacked? Or do you want to ensure such a scenario will never happen? Imagine that state of shock and wonder that despite installing premium cybersecurity software, the hackers still managed to outsmart you and leak your firm’s and client's confidential data.

The consequences most likely result in losing customers who then switched to another company that proved to be safe in every aspect – not to mention the financial ramifications. Angry stakeholders and customers followed by a loss of money should compel you to opt for a cybersecurity platform that permits the user to detect similar kinds of malicious activity in advance. This is where BLINDSPOT comes in, a risk intelligence platform that empowers you to detect threats before they compromise you.

Allow the blog to shed light on the importance of proactive risk assessment, and how taking action in advance can ensure the user will be NIS2 compliant without having the stress of drafting lengthy writing reports or paying hefty fines.

How Can BLINDSPOT Become Your NIS2 Compliance Ally?

We all are aware that the previous Network and Information System initiated by the European Union to keep the member states safe from data breaches was not very efficient. However, the EU did not give up and stepped forward with a modified and stronger version of the NIS as the NIS2 Directive.

As mentioned in Part 1 of this article, a broader scope catering to multiple industries and strong compliance measures ensure that businesses will need to take the directive seriously.

NIS2 Directive will be transposed into the national laws of Member States by October 2024 and has already raised the standards and expectations for stricter security measures to be met, along with better incident reporting, and harsh penalties when not adhered to.

There is no doubt that given the compliance criteria, an adequate risk intelligence and supply chain protection solution is needed for companies that are looking to meet the requirements of the NIS2 Directive.

NIS2 Directive: A Multi-faceted Challenge for Organizations

The NIS2 Directive brings a multi-faceted challenge for organizations to the table:

Wider Scope

In the previous NIS, the security provision was limited to a few industries, but the improved entities representing waste management, postal services, and manufacturing sectors now fall under the NIS2 umbrella as well.

Fool Proof Security Measures

Knowing that they are at risk, organizations must implement sturdy security measures to stay away from possible cyberattacks and losing their data to threat actors. Additionally, they have to ensure sufficient security of their supply chain partners as well.

Strict Reporting Needs

The Directive commands strict reporting needs to inform about suspicious activity as soon as possible to the relevant authorities, with specific deadlines in place. The directive is made for your cyber safety, therefore make the most out of it.

Heavy Penalties for Non-Compliance

Companies will regret big time if they don't comply with NIS2. How? Just imagine you overlooked the incentive and the very next day your account is under the hacker’s control and you need to report the incident in 24 hours. Then you’ll need to craft a full incident report and figure out how to justify how the breach could occur in the first place.

BLINDSPOT’s Role in Managing NIS2 Compliance

BLINDSPOT, our risk intelligence platform, has a crucial role to play in managing NIS2 compliance as it allows your organization to learn about the following:

Adversarial Intelligence

One of the best parts about BLINDSPOT is that it offers insights into the adversarial landscape so you can comprehend the threats you stand against. By learning about techniques, tactics, and procedures (TTPs) employed by adversaries you can see the impact they have on your risk scores and the risk levels of your suppliers, vendors and other parties on your supply chain. This unlocks a dimension of knowledge for the users to learn from where their organization is vulnerable to cyberattacks and how they can be compromised. Based on these insights, you can implement the correct strategies according to the severity of the situation.

Proactive Detection of Threats

BLINDSPOT takes the lead in this case as it possesses the power to monitor the infrastructures of cybercriminals. The risk intelligence platform can identify the threats right at their source that are aimed at particular industries, and you can constitute your portfolio to monitor the exposure of your supply chain as well. This strategy allows the business to see and take the necessary actions before they fall prey to the incoming cyberattacks.

Quick Warning After Any Malicious Activity Arises

There is no need to rely on compliance checks or assessment sheets to understand your resilience towards cyberattacks. BLINDSPOT has been made to monitor contemporary incidents and real-time breaches to prevent software and physical supply chain attacks. The platform will provide you with the details about your adversary so that it becomes easier and faster for organizations to take prompt action and mitigate those threats before they turn into a fully-blown cyberattack.

Meeting Compliance Requirements

BLINDSPOT's detailed threat intelligence arrangement helps organizations meet the stringent reporting requirements outlined in NIS2. By giving the businesses ability to have a holistic assessment of any organization’s cyber risk levels, BLINDSPOT takes away the pressure of not knowing whether you’re protected well enough and what could happen if you are compromised. Monitoring the whole supply chain now becomes an easy task, leaving no space for doubt and unexpected blind spots.

BLINDSPOT's Broader Compliance Benefits

While NIS2 compliance is a major reason that makes BLINDSPOT a perfect match for your organization, the platform also offers additional compliance advantages:

GDPR Alignment

Understanding attacker motivations and TTPs aligns with GDPR's emphasis on data protection and breach notification requirements. By identifying potential data breaches faster, organizations can comply with GDPR's notification timelines.

Proactive Risk Management

BLINDSPOT's risk intelligence fosters a proactive approach to cybersecurity, a core principle of various compliance frameworks. By fostering a proactive stance towards upcoming compromises and supply chain attacks, the platform helps spread awareness about the importance of acting in advance, not after it’s too late.

Staying One Step Ahead

By understanding the evolving threat landscape, organizations can implement targeted defenses to mitigate risks and prevent successful cyberattacks. Knowing your adversary gives you the upper hand to think through the mitigation procedures and understand your weaknesses so you can ensure cannot be targeted again.

Improved Business Continuity

Early warning and prompt resolution on your end minimize downtime and disruption to business operations and ensure your reputation stays intact – in addition to avoiding unnecessary spending on cyber incidents and data breaches.

Conclusion

In today's digital world, cyberattacks are a constant threat. Even with top-notch security software, companies can find themselves vulnerable. Imagine the shock of seeing your company's name in the news after a data breach. Lost customers, angry stakeholders, and hefty fines can be devastating. Not a single company wishes to be in such a situation.

This is where you need to realize the importance of adequate risk intelligence and supply chain security solutions. BLINDSPOT isn't just another security tool; it's a risk intelligence platform that empowers you to fight back. By understanding the tricks and techniques hackers use (their "playbook") and the risk scores of your supply chain, the platform can identify potential threats before they turn into ransomware attacks. No more waiting for disaster – on the contrary, BLINDSPOT helps you take a proactive approach to cybersecurity immediately.