This Year You Should Expect Stronger Cyber Security Regulations
The government is cracking down on cyber security. According to The Wall Street Journal, and companies are expected to comply with the more stringent cyber security regulations.
In early 2021, a SolarWinds and Microsoft hack occurred. They have been linked to Russia and China, respectively. President Joe Biden has issued a presidential executive order that mandates cyber attack reporting in some critical infrastructure sectors. The confirmation of a new National Cyber Director has also occurred. He is Chris Inglis and will oversee the cybersecurity efforts of the U.S. government.
Later in 2021, Kaseya and JBS SA were hit by ransomware. This is a big deal for critical infrastructure companies, because more regulation will likely follow. According to Sidley Austin LLP Partner Sujit Raman: “I think we’re going to see more regulations, because the government is going to have to step in and say, ‘Look, this is a national security issue. We can’t have food processing plants that are shut down by cyber attacks.'”
U.S. government officials will likely put out new requirements for cyber security in 2022. They will tell companies that their infrastructure must be protected against cyber attacks at all costs and severe consequences will follow if the cyber security regulation practices are not implemented.