Stay Compliant with Key Regulations
Understanding and adhering to relevant regulations is crucial for protecting your organization against phishing threats while ensuring compliance with legal requirements. Our Regulatory Updates section provides concise summaries of the most important regulations affecting the financial sector and how they influence your anti-phishing strategies. Stay informed about changes in the regulatory landscape and access the resources you need to maintain compliance.
Key Regulations Overview
1. General Data Protection Regulation (GDPR)
- Summary: The GDPR is a comprehensive data protection regulation that applies to all organizations processing personal data of EU citizens. It mandates strict guidelines for data handling, consent, and breach notifications.
- Impact on Phishing Protection: Under GDPR, organizations must implement strong security measures to protect personal data from phishing attacks. Failure to do so can result in significant fines and penalties. Phishing incidents must be reported to authorities within 72 hours if they result in a data breach.
2. Network and Information Security (NIS) Directive
- Summary: The NIS Directive aims to enhance the cybersecurity of critical infrastructure, including financial institutions, by requiring robust security measures and incident reporting.
- Impact on Phishing Protection: Organizations within the scope of the NIS Directive must implement measures to protect against phishing and other cyber threats. This includes conducting regular risk assessments, applying technical controls, and reporting significant incidents to national authorities.
3. Payment Services Directive 2 (PSD2)
- Summary: PSD2 regulates payment services and payment service providers throughout the EU, focusing on improving security and competition in the payments market.
- Impact on Phishing Protection: PSD2 mandates strong customer authentication (SCA) to protect payment transactions, making it harder for phishing attacks to succeed. Financial institutions must ensure that their authentication processes meet PSD2 requirements to avoid penalties.
How Regulations Impact Anti-Phishing Strategies
Compliance with these regulations requires more than just technical controls; it involves a comprehensive approach that includes employee training, policy development, and incident response planning. Here’s how each regulation influences your anti-phishing strategies:
- GDPR: Focus on protecting personal data through robust security measures and rapid breach notification processes.
- NIS Directive: Emphasize risk management and incident reporting as key components of your cybersecurity strategy.
- PSD2: Implement strong authentication mechanisms to secure payment transactions against phishing attacks.
Stay Updated
Regulatory requirements can change, and staying informed is essential. We regularly update this section with the latest developments in the regulatory landscape. You can also sign up for our regulatory updates newsletter to receive the latest information directly in your inbox.