British Government Launches Cyber Security Review

Cyber-Crime

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Cyber security has become one of the priority risks to be dealt with by organisations given that the number of cyber-attacks is on the rise. They are increasingly sophisticated and have an enormous economic and reputational impact on organisation.

Governments are not immune to this threats.

According to Reuters, the British government said on Monday it is launching a national inquiry into cyber security to assess the extent to which the UK is protected from an ever-increasing tide of attacks worldwide.

Cyber-attacks in the UK have been on the rise, with businesses such as banks and retailers increasingly becoming targets for hackers.

Reported attacks on financial institutions in Britain rose from just five in 2014 to 75 in the year to October 2016, data from Britain‘s Financial Conduct Authority (FCA) show. Last year, retailer Tesco’s banking arm suffered an attack which saw some 2.5 million pounds stolen from 9,000 current accounts.

Reuters reports that the inquiry will look at issues including the types of cyber threats faced by the UK, the extent of human, financial and technical capital committed to address threats, and the development of offensive cyber capabilities.

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