Call us now:
However politically unsavory, the detailed output from a UK Parliamentary Commons Committee on the state of UK cybersecurity says it all. As one Chairman said to me this week, ‘we cannot continue to bury our head in the sand’ when everyone around us is sitting at the table drinking coffee, we ceased to be an island the day the internet was created. Further, one arranged a meeting between the U.S ONCD and the All Party Parliamentary Group on cyber earlier this year to start a dialog over harmonisation of cybersecurity. For UK agencies to pull out 2 hours before the event.
It is time that UK government cybersecurity was led by someone that is from industry, with accountability and responsibility attached to the role, along with civil and criminal convictions being aligned with compliance. One only has to look at how other nations are moving ahead and addressing cyber, including civil and criminal penalties for compliance, to recognise the severity of the situation.
Main takeaways from the report
1. Most victims do not report incidents – Why would they, there’s no regulation requiring it. This puts industry at risk, there’s no sharing of risk data to size the cyber problem and explains why the UK looks so good at cybersecurity. As of 15.12.23 the U.S SEC requires covered entities report cyber incidents. (including UK FPIs), the same for EU cyber regulation.
2. Most victims pay ransomware – There’s no alternative and there’s no solutions offered to do anything else.
3. UK regulatory frameworks are insufficient and outdated – There aren’t any cyber regulations in the UK. At a time when its partners are regulating cyber that at best effects UK trade, at worst leaves UK industry exposed to cyber attacks. The UK has no defensive cyber strategy, leaving it rudderless when it comes to managing such a complex risk, UK government recommends industry adopt cyber essentials. The take up is appalling and it’s no longer fit for purpose when one compares what our partners are doing.
4. Cyber insurance could provide a vital lifeline for ransomware victims but there is a woeful lack of UK coverage – The world has moved on, cyber regulation is forcing covered entities manage cybersecurity risk ‘Left of Bang’. Cyber regulation requires organisation take proactive steps to manage cyber risks, cyber insurance is a risk transfer tool focused on ‘Right of Bang’, not left.
Chairs comments
The UK has the dubious distinction of being one of the world’s most cyber-attacked nations. It is clear to the Committee that the Government’s investment in and response to this threat are not equally world-beating………..Our main legislative framework is irresponsibly outdated and Government missed another chance to rectify this in the latest King’s Speech. {sic}
Ted Dziekanowski Brian D. McCarthy
#cybersecurity #cyberriskmanagement #cyberregulation
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