All around the world, cybersecurity compliance regulations are either being introduced or being strengthened. Considering how ubiquitous digital devices have become and how reliant the global populous is on these devices, this trend certainly isn’t surprising at all.

Consequently, this has also resulted in a rapid increase in cyber threats and heightened awareness around data privacy, leading global regulators to implement stricter cybersecurity compliance mandates. From the NIS2 Directive in the EU to CIRCIA in the U.S., these frameworks emphasize stricter security standards and more transparent reporting of cyber incidents. Here's an overview of some of the most critical global regulations and how businesses can adapt.

Also read: What Is Cloud Compliance? A Comprehensive Guide to Navigating Regulations and Securing Cloud Data

NIS2 Directive: Expanding Cybersecurity Obligations in the EU

The Network and Information Security (NIS2) Directive will reshape the European Union's cybersecurity landscape in 2024. Expanding on NIS1, the framework brings more industries, such as healthcare, energy, and transportation, under its purview. The NIS2 Directive came into force on October 18, 2024. Senior executives need to have a more involved role in cybersecurity as they are held accountable for ensuring compliance.

How to Prepare:

• Strategic Approach: Assess compliance gaps and initiate strategic planning.
• Robust ASM and TPRM: Build comprehensive Attack Surface Management (ASM) and Third-Party Risk Management (TPRM) programs.
  Culture Change: Foster a culture focused on risk awareness.

Key Dates: Full compliance is expected from October 2024.

Official Resource: European Commission’s NIS2 page - NIS2 Directive Overview

Digital Operational Resilience Act (DORA): Financial Sector Focus

DORA is crucial for strengthening the operational resilience of financial services across Europe. It sets harmonized standards for Information and Communications Technology (ICT) risk management, with a focus on maintaining the integrity of the financial ecosystem.

How to Prepare:

• ICT Risk Management: Institutions must adopt advanced risk management frameworks.
• Third-Party Monitoring: Ensures strict oversight of third-party service providers, including cloud vendors

Key Dates: January 2025

Official Resource: European Union’s Digital Operational Resilience Act - DORA Information

United States: Strengthening Critical Infrastructure Protection

The United States is bolstering its cybersecurity framework, with a special focus on critical infrastructure. Several important regulations include:

1. Cyber Incident Reporting for Critical Infrastructure Act (CIRCIA) was fully implemented in mid-2024, requiring critical infrastructure companies to report significant cyber incidents within 72 hours. SEC Reporting Requirements for cybersecurity incidents apply to public companies starting December 18, 2023, with smaller reporting entities expected to comply by June 2024.
   
   Key Dates: December 2023, and June 2024 for smaller entities.
   
   Official Resource: Cyber Incident Reporting For Critical Infrastructure Act Of 2022 (CIRCIA) – Fact Sheet
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2. SEC Reporting Requirements: SEC Reporting Requirements for cybersecurity incidents apply to public companies starting December 18, 2023, with smaller reporting entities expected to comply by June 2024. Public companies must report material cybersecurity incidents within four business days as per the new SEC Reporting Requirements.
   
   ‍Key Dates: December 2023, and June 2024 for smaller entities.
   
   ‍Official Resource:  U.S. Securities and Exchange Commission (SEC) - SEC Cybersecurity Disclosure
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3. Cybersecurity Maturity Model Certification (CMMC): Applies to U.S. defense contractors and was rolled out mid-October 2024, requiring compliance from entities handling controlled unclassified information. It comes in three levels—foundational, advanced, and expert, with increasing control strictness as you ascend each level.
   
   Key Dates: October 2024
   
   Official Resource: U.S. Department of Defense - CMMC Framework

How to Prepare:‍

• NIST Alignment: NIST compliance is imperative as each level of CMMC aligns with specific requirements that can be mapped through the NIST framework.
• Cloud Security: Ensure that cloud service providers comply with federal standards, such as FedRAMP, which ensures strict security protocols.
  Incident Reporting: Establish robust internal processes to meet new reporting timelines.

Singapore: Cybersecurity Act and Financial Sector Regulations

Singapore remains a global leader in cybersecurity governance with its Cybersecurity Act, which enforces strict standards for operators of Critical Information Infrastructure (CII). Singapore also has specific regulations for the financial sector, such as the Monetary Authority of Singapore (MAS) Cyber Hygiene requirements.

How to Prepare:‍

• Adopt MAS Guidelines: Financial institutions must follow MAS guidelines for multi-factor authentication (MFA) and vulnerability assessments.
• Incident Response: Prepare to report cybersecurity incidents to Singapore's Cyber Security Agency (CSA)

Key Dates: Ongoing enforcement.

Official Resources:‍‍

• ‍‍Singapore’s Cyber Security Agency - Cybersecurity Act Overview
• Monetary Authority of Singapore - MAS Cyber Hygiene

Global Industry-Specific Compliance: PCI-DSS 4.0

PCI-DSS 4.0 introduces a more flexible framework for payment processing security. The transition to PCI-DSS 4.0 will continue through March 31, 2025, after which all organizations must comply with the new standards.

How to Prepare:

• Understand New Requirements: Familiarize yourself with PCI DSS 4.0's risk-based authentication, MFA, and flexible compliance options.
• Strengthen Data Protection: Implement advanced encryption and data masking, with clear data retention and disposal protocols.
• Prioritize Continuous Monitoring: Establish continuous monitoring and frequent risk assessments to stay aligned with evolving threats.

Key Dates: Full compliance required by March 2025

Official Resource: PCI Security Standards Council - PCI-DSS 4.0 Overview

Cybersecurity in the Age of AI: EU AI Regulations

In response to the increasing role of AI in business and cybersecurity, the EU AI Act was introduced in early 2024 and imposes requirements on high-risk AI systems to address AI-specific vulnerabilities, requiring robust cybersecurity and reporting measures.

Key Dates: August 1, 2024

Official Resource: European Commission - EU AI Act

How to Prepare:

• Classify AI Systems by Risk: Identify and categorize AI systems under the EU AI Act's risk tiers: unacceptable, high, limited, or minimal.
• Meet Transparency and Accountability Standards: Ensure transparency, user information, and accountability for high-risk AI, including documentation and traceability.
• Implement Robust Data Governance: Apply strict data management, privacy, and security practices to maintain compliance, particularly for high-risk AI.

Also read: Compliance Is More Than a Certification

Cloud Security: The Backbone of Global Compliance

As regulations become more stringent globally, the role of cloud security is more critical than ever. Organizations must ensure their cloud infrastructure is resilient and compliant across regions, whether following the NIS2 guidelines in the EU, FedRAMP in the U.S., or the MAS Cyber Hygiene requirements in Singapore.

At HTCD, our cloud security and compliance solution leverages AI-driven insights and real-time monitoring, empowering businesses to comply with evolving regulations like NIS2, DORA, and PCI-DSS 4.0, all while minimizing risks from emerging cyber threats.

Conclusion: Compliance as a Competitive Advantage

2024 has already seen significant shifts in the global cybersecurity regulatory landscape, with new and updated requirements in the EU, the U.S., and beyond. By taking proactive steps to meet these regulations, businesses can not only avoid hefty fines but also build trust with customers and stakeholders.

To thrive in this evolving environment, companies need to view compliance as a competitive advantage, leveraging tools like cloud security to mitigate risk, streamline operations, and foster long-term growth. Simplify your cloud compliance requirements and monitor your compliance for frameworks such as NIST, PCI DSS, and more with HTCD: Cloud Security & Compliance, Simplified. Book a demo to see our compliance tracker in action.

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