The UK is more vulnerable to cyber attacks than ever before
A recent Commons report has warned that we are more exposed to cyber criminals than ever before. The UK has one of the world’s leading digital economies, designed to exploit the benefits of the internet, but this also makes it vulnerable to attack from hostile countries, criminal gangs and individuals.
MPs said the threat is evolving fast and becoming technically more complex. The Public Accounts Committee (PAC) said the National Cyber Security Centre has dealt with more than 1,100 incidents since it was established in October 2016.
PAC chairwoman Meg Hillier said: "As the likelihood of these attacks continues to grow, the UK needs to protect itself against the risks created by more and more services going online."
In order to counter the threat, the Government has published two five-year national cyber security strategies.
Ms Hillier said: "In the interest of national security, the Cabinet Office need to take a long-term approach to protecting against the risk of cyber attacks: future plans should be based on strong evidence, business cases should be rigorously costed to ensure value for money, and strategic outcomes and objectives should be clearly defined."
At G&M International our Cyber Insurance can provide financial reimbursement, as well as a 24 hour 365 day helpline (also known as Breach Response) which gives businesses access to forensic accountants and lawyers, data recovery experts, PR companies and a whole host of professionals who can help in the mitigation of losses and the recovery of systems.
For more information about our Cyber Insurance or to discuss your cyber needs call us on +44 (0) 207 977 1490.