Governments around the world are taking a more active role in regulating cybersecurity in the face of evolving threats and increasing attacks. Here are some of the increased regulations that governments will enforce for cybersecurity:

Reporting and Transparency:

• Mandatory Cybersecurity Incident Reporting: Several governments, including the US, EU, and Australia, have implemented mandatory cybersecurity incident reporting requirements for critical infrastructure entities and publicly traded companies. This requires reporting cyber incidents within a specific timeframe, providing detailed information about the incident, and potentially even notifying customers and stakeholders.

• Cybersecurity Disclosures: The US Securities and Exchange Commission (SEC) has adopted new rules requiring publicly traded companies to disclose material cybersecurity incidents and information about their cybersecurity risk management, strategy, and governance. This aims to increase transparency and provide investors with information to make informed decisions.

Governance and Risk Management:

• Cybersecurity Frameworks: Governments are developing and implementing cybersecurity frameworks that outline best practices for risk identification, assessment, and mitigation. These frameworks provide guidance for organizations on how to manage their cybersecurity risks and comply with relevant regulations.

• Board-Level Oversight: Increasingly, regulations are requiring that boards of directors have oversight of cybersecurity risks and strategies. This ensures that cybersecurity is considered a top priority and that resources are allocated appropriately.

Supply Chain Security:

• Regulations for Third-Party Vendors: Governments are focusing on securing the supply chain by requiring organizations to assess and manage the cybersecurity risks of their vendors and third-party partners. This is crucial because a cyber attack on a vendor can often impact its customers as well.

International Cooperation:

• International Standards and Agreements: Recognizing the global nature of cyber threats, governments are working together to develop international standards and agreements for cybersecurity. This helps to ensure consistency and cooperation in addressing cybercrime and improving overall cyber resilience.

Potential Future Regulations:

• Data Privacy Regulations: Governments are exploring and implementing stricter data privacy regulations, such as the European Union's General Data Protection Regulation (GDPR). These regulations often include cybersecurity requirements to ensure the protection of personal data.

• Cybersecurity for Small and Medium Businesses: Governments are considering regulations specifically designed for small and medium businesses (SMBs) to help them improve their cybersecurity posture. This is because SMBs are often targeted by cyber criminals due to their limited resources and expertise.

Examples of Recent Regulations:

• Cyber Incident Reporting for Critical Infrastructure Act (CIRCIA): Requires critical infrastructure companies in the US to report cybersecurity incidents to the Cybersecurity and Infrastructure Security Agency (CISA).

• EU Cybersecurity Act: Establishes a framework for cybersecurity risk management and incident reporting for EU institutions and bodies.

• SEC Cybersecurity Disclosure Rules: Require publicly traded companies in the US to disclose material cybersecurity incidents and information about their cybersecurity risk management, strategy, and governance.

Overall, the trend is towards increased government regulation of cybersecurity. This reflects the growing recognition of the importance of cybersecurity and the need for coordinated efforts to address cyber threats.

It's important to note that the specific regulations will vary depending on the jurisdiction. Organizations should stay informed about the latest regulations that apply to them and take steps to comply.