TACKLING CYBER ATTACKS IN THE EUROPEAN UNION
TACKLING CYBER ATTACKS IN THE EUROPEAN UNION

Summary/Abstract: Cyberattacks affect both individuals and companies and the damages have a long term effect. Companies in the European Union (EU) are spending more to safeguard their digital assets, but cybercrimes are still growing in frequency and severity. What's needed now isn't more security, but better security. The unprecedented cybercriminal activity is generating so much cyber spending, it’s become nearly impossible for analysts to accurately track. Many corporations are hesitant to announce breaches they’ve suffered and the amounts of their increased security budgets, for fears of reputational damage and of antagonizing cybercriminals. The aim of this paper is to highlight the necessity for EU companies to protect better from cyber attacks by investing more in consulting services, protection services, cyber insurance. The objectives of this paper are: to perform an evaluation of the problems faced by the organisations because of cyber attacks and to offer some solutions for cyber protection – linked to the EU policies in this field.

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