Fines of up to £17m or 4% of turnover for Companies neglecting their security and leaving systems open to cyber attacks

Fines of up to £17m or 4% of turnover for Companies neglecting their security and leaving systems open to cyber attacks

Fines of up to £17m or 4% of turnover for Companies neglecting their security and leaving systems open to cyber attacks

The Government announced today that they will fine Companies up to £17m or 4% of turnover for neglecting their security and leaving systems open to cyber attacks.

The Government will target the transport, health and energy sectors. The Department for Digital, Culture, Media and Sport (DCMS) has announced. The plans make sure that those providing essential services are taking strong enough measures to prevent downtime as a result of a Cyber Attack.

The Department for Digital, Culture, Media and Sport have announced that the minimum expected standards are monitoring for threats, processes to detect cyber attacks, staff training in cyber security, and measures for quick recovery of systems after an attack. Something our Cyber Security protection covers (click here).

If a business was victim to a Cyber Attack and was found by the Department for Digital, Culture, Media and Sport to have fell short of the new standards, they could be fined by these new rules.

The Minister of State for Digital and Culture, Matt Hancock has said “We want the UK to be the safest place in the world to live and be online, with our essential services and infrastructure prepared for the increasing risk of cyber attack and more resilient against other threats such as power failures and environmental hazards.”

Recent Major cyber attacks, including WannaCry which crippled large parts of the NHS and other major ransomware attacks that hit many of the world’s largest firms.

The Government have encouraged Businesses and public providers to respond to the DCMS plans.

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