Britain Beefs Up Cyber Security Measures

According to a recent report on Independent On-line ( Britain is appealing to company investors and shareholders to adopt a “watchdog” role as a means of “beefing up” its cybersecurity. Rather than employing the more draconian US approach, which features mandatory reporting by companies subjected to cyber attacks, Britain is relying on those with vested interests to assist them in the management of such assaults.
The report suggests that 9 out of 10 British companies have “suffered a cyber breach in the past year” and, as such, the government is now viewing this problem as serious – so much so that it’s set aside £650m over the next four years to manage the situation.
However, despite the gravity of the circumstances and the increase in cyber threats, Britain has decided to place the responsibility squarely on the shoulders of company directors and investors. ”Fear of reputational damage” can be a powerful motivator!
Interestingly, the report suggests that in the main, the British government is wary of the US mandatory approach since it believes companies may risk withholding such information rather than face unwanted public scrutiny.
The topic has stirred up debate among those who prefer the mandatory approach, suggesting that it keeps organisations on their toes.
This pilot scheme is expected to run across a variety of different industry sectors.

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