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Summary international business law 18/20

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Cybersecurity Regulations for Businesses
1. Give us 5 consequences of cyber-attacks ?
 Financial losses due to theft or fraud
 Services disruptions and inconvenience
 Lost of trust in online services
 Data breaches, risking personal information
 Operational disruptions and downtime
o Downtime is when a system or service stops working and cannot be used


2. What does the ENISA do?
 ENISA = European Union Agency for Cybersecurity
 Tasks:
o It is an EU agency focused on cybersecurity.
o It gives advices, guidance and support to EU countries and institutions
o It assists in the development of EU-wide cybersecurity policies, standards and best
practices
o It also plays a central role in supporting the implementation of EU cybersecurity
legislation, such as the NIS Directive and Cybersecurity Act
o It organizes events like ECSM to raise awareness about cybersecurity
 ECSM = European Cybersecurity Month
 Annual campaign for the entire month of October


3. What is eIDAS and give me an example?
 eIDAS = Electronic Identification Authentication and trust Services
 What?
o It is an European system that ensures safe online transactions across the EU
o It allows secure electronic exchanges, legally binding digital signatures, and reliable
digital identity verification.
 Example
o Someone in Spain can sign a contract online with a company in Italy using a trusted
digital signature, and it will be legally accepted in both countries.

, 4. Explain the purpose of the GDPR and discuss the key provisions?
 Purpose
o It protects personal data and privacy of individuals in the EU.
o It ensures organizations handle data responsibly and transparently.
 Key provisions
o Data protection and privacy
 It ensures secure handling and processing of personal data.
 It applies to any organization handling EU citizens’ data even outside the EU.
o Data minimalization
 Only collect data that is strictly necessary for purpose.
o User consent (toestemming) and transparency
 It requires clear, explicit user for data collection and use.
 Organizations must provide detailed information on how data will be used.
o Rights of individuals
 Right to access: individuals can see what data is stored.
 Right to rectification: users can correct inaccurate data.
 Right to erasure: users can request deletion of their data.

5. Explain the main features of the NIS2 directive. Why is this important for companies?
 What?
o Law created to improve the cybersecurity in the essential sectors. It sets stricter
standards and it is important to report incidents fast.
 Main features
o Expanded scope.
 Covers critical sectors like water, health and energy.
 Also applies on governments entities.
o Stricter risk management
 Companies must implement stronger measures for risks, incidents and supply
chain security.
o Incidents report
 Companies must report the incidents way faster.
 Reporting is mandatory in a specific timeframe.
o Enhanced cooperation
 Promotes collaboration between member states
 Establishes a wider cooperation for sharing information.

 Importance for companies
o Protects critical systems from cyberattacks.
o Helps businesses comply with EU-wide standards.
o Enhances trust and resilience in their operations, benefiting companies as well as clients.
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