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Daily Insurance Industry News
Sunday 21st of January 2018
June 26, 2012

UK businesses in front line of cyber threat

by Gill Montia

Story link: UK businesses in front line of cyber threat

Delivering the Lord Mayor’s Annual Defence and Security Lecture yesterday, the UK’s Director General of the Security Service, Jonathan Evans, warned that the front line in cyber security is as much in business as it is in government.

Currently, Britain’s National Security Strategy ranks cyber security alongside terrorism as one of the four key security challenges facing the UK.

Mr Evans explained:

“Vulnerabilities in the internet are being exploited aggressively not just by criminals but also by states.

“And the extent of what is going on is astonishing – with industrial-scale processes involving many thousands of people lying behind both State sponsored cyber espionage and organised cyber crime.”

Not only government secrets are at stake, but also “the intellectual property that underpins the future prosperity of the UK, along with the commercially sensitive information that is the life-blood of companies and corporations”.

According to Mr Evans: “The threat to businesses relates not only to major industrial companies but also to their foreign subsidiaries, and to suppliers of professional services who may not be so well protected.”

The security chief also revealed that his service is currently investigating cyber compromises in over a dozen companies and is working with many others that are of high economic value and that are potential future targets of hostile state cyber activity.

 

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