The Cyber Security Review | Wednesday, February 02, 2022
Ideas and forecasts on how the worldwide cyber security landscape will evolve in 2022
FREMONT CA:To understand the key establishments in every region over the last twelve months and what can be estimated from the upcoming years, industry leaders were interviewed in the APAC region, UK, North America, and Europe. All the four regions had three key themes in common:
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Governments are becoming significantly more interventionist in the regulation and legislation of cyber security and resilience.
There appears to be widespread agreement among policymakers that the free-market approach to delivering secure, resilient infrastructure in the digital age has mostly failed. As a result, our participants see governments in their various regions becoming more interventionist, imposing a growing number of seemingly harsh rules on organizations. There has also been a change from outcomes-based regulation to more prescriptive regulation, which may indicate a lack of maturity among regulated entities in knowing what they need to do to attain the desired objectives.
Organizations must understand how legislation and markets in the jurisdictions and sectors in which they operate are evolving and what efforts must be made to comply with new regulations, safeguard their organization, and, ultimately, continue to function efficiently. This could be especially difficult for globally operating enterprises, particularly those that own or run vital infrastructure. While the overall goal is broadly the same in each jurisdiction, the way regulators want organizations to achieve it varies. As a result, organizations may be best advised to develop a single cost-effective regime that meets all global requirements.
Global cyber rhetoric does not always correspond to protectionist reality.
There is no limit to the number of international declarations of intent, trade agreements, and treaties that admit to co-operate and collaborate on growing and adhering to a set of agreed-upon norms in the borderless digital world. The interviewees, on the other hand, report a completely different reality in their regions, where recent government activity indicates a shift towards inward-looking, protectionist strategies. Globally functioning organizations must look beyond the rhetoric of what governments say on the global stage to understand and navigate the realities on the ground in the jurisdictions in which they operate. Nation-states must balance their protectionist tactics with the need to engage closely with their partners to develop a coordinated response to cyber risks to assist organizations and offer better security outcomes. This should entail going beyond high-level commitments and more clearly defining which aspects of digital policy demand a truly global response and which are so profoundly related to a nation's survival that governments will take charge individually while coordinating with their allies.
The importance of security and resilience is rising.
Increased ransomware attacks and unprecedented digitization, connectivity, and technological advancements that present new and evolving security challenges have led to an increase in the perceived importance of cyber security and software resilience in North America and the Asia and Pacific region. Simultaneously, insurers are reportedly lowering the coverage they provide to consumers, fearful of escalating ransomware attacks and the increasing expertise of attackers.
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