EU Recognizes and Acts on Cybersecurity Needs with $1.8 Billion Plan

In an effort to meet today’s ever-evolving cybersecurity needs, the European Union (EU) announced the launch of a new cybersecurity-industry partnership on July 5 with an expected investment of $1.8 billion by 2020.

According to the EU’s press release, the partnership “is part of a series of new initiatives to better equip Europe against cyber-attacks and to strengthen the competitiveness of its cybersecurity sector.” The release presents research from a recent survey on cybersecurity incidents. The survey found that the number of cybersecurity incidents increased by 38 percent worldwide in 2015.

As cybersecurity incidents and threats increase, governments and businesses around the world have to take more steps to defend themselves. Based on their new initiatives in the cybersecurity industry, it would appear that the EU recognizes this. It’s crucial that businesses of all sizes are wary of the threats they face and the consequences that could arise if an incident occurs in their company.

In the commission’s plan, they noted a desire to “reinforce cooperation across borders” and throughout the various sectors of cybersecurity. The release quoted multiple leaders in the EU’s cybersecurity industry including the vice president for the Digital Single Market, Andrus Ansip. Ansip said: “Europe has to be ready to tackle cyber-threats that are increasingly sophisticated and do not recongise borders.”

While this commission focuses solely on EU countries, the core purpose and message of the plan crosses all borders from the U.S. to China: effective, growing cybersecurity is essential for the function of businesses and countries, small or large. Recognizing the gravity of cyber-threats today is essential for growth.

Hackers, Phishers and other cyber-attackers are continuously working to improve and adapt their efforts to overcome governments’ and businesses’ cybersecurity. The only proper response is to match and supersede their efforts; and it would seem the EU is attempting to do just that.

If you’re ready to protect your organization from cyber-threats, start working with the MainNerve team today.

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