The UK government is between a big rock and a hard place with the JLR cyber attack.

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The UK government is between a big rock and a hard place with the JLR cyber attack. On one side, why should it bail out a private sector company with rich parents? On the other hand, UK jobs and UK industry are at risk.

Providing JLR with a £1.5bn loan guarantee creates a ‘moral hazard’ for UK industry. Especially the UK industry, which is big enough that when it fails, the government is asked to step in. US and UK industries have voiced for some time that they need an insurer of last resort, much like the lender of last resort, and this feels very much like one of those situations.

Cybersecurity has been treated as an afterthought by many governments. But cyber attacks are proving to be very successful at damaging the public and private sectors. By creating an insurer of last resort, you create moral hazard. The UK should consider following partner nations in regulating industry to comply with cybersecurity standards, such as those being regulated by the EU and the US.

@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan

Veritas GRC

#cybersecurity #cyberattack

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