Turn NIS2 Compliance into a Strategic Advantage

Much of NIS2 is about refining what you’re already doing, but did you know that compliance can also become a strategic cornerstone of your information management strategy?

Information Management

18 October 2024

In today’s digital world, safeguarding networks and information systems is more critical than ever. The European Union’s NIS2 Directive, (which became law on 18 October 2024) is a successor to the original NIS Directive and seeks to strengthen cybersecurity across the EU by increasing the resilience and incident response capacities of both public and private sectors.

What is NIS2?

NIS2 is an updated EU directive designed to enhance cybersecurity throughout the Union. Applicable from 18 October 2024, it applies to both public and private entities and automatically includes larger organisations with 250+ employees and an annual turnover of over €50 million. NIS2 expands its original scope, adding sectors such as energy, healthcare, food production, public administration, and digital infrastructure under its protection.

Key Areas of NIS2

Scope: NIS2 includes more sectors critical to societal and economic activities.

Risk Management: Organisations must implement comprehensive risk management, covering incident handling, continuity, crisis management, and auditing.

Incident Reporting: NIS2 requires timely and detailed reporting of cybersecurity incidents.

Penalties: Fines for non-compliance stress the importance of complying with NIS2.

The goal of NIS2

NIS2’s primary goals are to enhance resilience against cyber threats, reduce disparities in cybersecurity across EU member states, and establish consistent crisis management protocols.

NIS2 guarantees harmonised security measures and a unified response to major cyber incidents, ensuring the continuity of essential services and operations even in the event of a cyberattack. Essentially, it’s about ensuring that the show will go on—no matter what.

The Implications of NIS2

For organisations, the transition to NIS2 brings new responsibilities. Stricter reporting requirements mandate that incidents be reported within 24 hours, with a detailed analysis and action plan due within a month.

NIS2 also places a significant emphasis on supply chain security, recognising the consequences of vulnerabilities within one part of the chain. This holistic view encourages adopting best practices in IT security, covering everything from asset management to encryption and human resources management.

NIS2 Non-Compliance

Much like GDPR, non-compliance with NIS2 can lead to hefty fines—up to €10 million or 2% of global annual revenue. Additionally, company leadership is held personally accountable for security breaches, highlighting the need for proactive oversight, risk management, and training on cyber incident handling. Leadership may also face personal penalties, including suspension from their roles if they fail to meet these responsibilities.

NIS2 Checklist

Identify Risks: Conduct a business-wide cybersecurity risk assessment and create a plan to address vulnerabilities.
Tighten Access Control: Implement strong identity governance to enforce stricter access control and ensure only authorized personnel access critical systems.
Protect Privileged Access: Limit access to admin-level accounts and use best practices like rotating passwords regularly.
Use Phishing-Resistant MFA: Strengthen authentication with phishing-resistant Multi-Factor Authentication (MFA) to reduce the risk of social engineering attacks.
Defend Against Ransomware: Introduce security solutions such as endpoint privilege management to defend against ransomware proactively.
Secure Your Software Supply Chain: Review third-party software for vulnerabilities and use secrets management solutions to secure sensitive data.
Adopt a Zero Trust Strategy: Shift to a multi-layered Zero Trust security model with continuous authentication and least privilege access.

Create Strategic Advantage with NIS2 Compliance

Compliance with NIS2 isn’t just about avoiding fines—it’s about building a secure and resilient digital environment that defends against ever-evolving cyber threats. Swedwise take compliance a step further. We work with several platforms such as Extended ECM and SMAX, which ensure NIS2 compliance becomes a cornerstone in your business operations and acts as a business enabler across your Information Management and IT operations.