Forty per cent of UK businesses have experienced a cyber-security breach or attack in the last 12 months
The UK is aiming to take a lead in ‘designing out’ cyber threats to businesses and personal data. It wants to help ensure security and protections are built into digital devices and online services from the outset to make them more secure and resilient.
Business Secretary Greg Clark today announced £70 million in government investment through the Industrial Strategy Challenge Fund to help eradicate some of the most damaging cyber-security threats facing businesses and better protect consumers. It is also backed by further investment from industry.
This aim is to ‘design in’ security and protection technology/solutions into hardware and chip designs, ultimately helping to eradicate a significant proportion of the current cyber risks for businesses and services in future connected smart products.
“This could be a real step-change in computer and online security, better protecting businesses, services and consumers from cyber-attacks and bringing benefits to all sectors of the economy,” said Clark.
He added: “With businesses having to invest more and more in cyber-security, ‘designing in’ security measures into the hardware’s fabric will not only protect our businesses and consumers but ultimately cut cyber-security costs to businesses.
With cyber threats constantly evolving, the best defence in the future is seen as developing innovative solutions that can work independently and protect against threats even during attacks. The Government wants to ensure that every UK organisation is as cyber-secure and resilient as possible.
“Designing in security measures into the hardware’s fabric will not only protect our businesses and consumers but ultimately cut cyber-security costs to businesses”
A further £30 million of government investment will aim to ensure smart systems are safe and secure.
Nearly all UK businesses are reliant on digital technology and online services, yet more than 40 per cent have experienced a cyber-security breach or attack in the last 12 months. Hackable home wi-fi routers can be used by attackers in botnets to attack major services and businesses.
Consumers are often the worst affected by mass information leaks than the organisation that held their data. Businesses are having to spend increasing amounts on cyber security, up to 20-40 per cent of their IT spend in some cases. And as more and more systems are connected, whether in the home or businesses, there is a need for security that is secure by design, said the Government.
"We want the UK to be a safer place to live and work online. We’re moving the burden away from consumers to manufacturers, so strong cyber-security is built into the design of products. This funding will help us work with industry to do just that, improving the strength and resilience of hardware to better protect consumers from cyber-attacks,” said Digital Minister Margot James.
The modern Industrial Strategy sets out Grand Challenges to put the UK at the forefront of the industries of the future, including artifical intelligence and data.
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