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The UK government has started a consultation process with industry, seeking advice on what needs to be done to address cyber security shortfalls across the economy.
In the opinion of the The Department for Culture Media and Sports (DCMS) companies are getting better at assessing their cyber risks. 96% of FTSE 350 firms now have a cyber security strategy in place, 46% have a dedicated cyber security budget, only 57% have a cyber incident response plan which is tested regularly. 77% of these firms don’t recognise the cyber risks across supply chains. (https://lnkd.in/eT_sCdF)
There is some way to go to get cyber embedded into UK Plc and protect the UK economy from the economic shocks which cyber-attacks can bring. Time is short and the costs of failure are high; maybe it’s time to adopt an approach following countries like the US. Which is more descriptive in general with requirements, setting the standards for others to follow. In my view the US DoD CMMC is one to watch and the SECs programme of material risk reporting to markets and cyber adoption sets and example?(https://lnkd.in/eNGXyHx)
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