Defence Secretary Sir Michael Fallon MP recently addressed the second RUSI Cyber Symposium in London, where he announced a major new £265 million investment. Here, MOD DCB presents some of the highlights from his speech:
“Anyone with a laptop, and a clever bit of open-source, encrypted software, can do us harm. And any threat we face – state-sponsored aggression; global terror; attacks on elections, electoral machinery, media and other key features of democracy; and lone-wolf attacks – can have a cyber dimension.
“Last year, 90 per cent of large organisations reported they had suffered a security breach. The average cost of the most severe online security breaches for bigger companies starts at almost £1.5 million, up £600,000 from 2014.
“Virtual threats have physical consequences. It’s only a matter of time before we have to deal with a major attack on UK interests. That’s why, in last year’s SDSR, cyber was listed as a Tier One threat, up there with terrorism or a major natural hazard.
“Britain is already a world leader in cyber security today. But we can’t afford any complacency. That’s why HMG is investing £1.9 billion – almost double the previous levels of investment – to protect the UK from attack, to keep ahead of the curve.
“This month we launched the new National Cyber Security Centre in Victoria, whose headquarters will be a stone’s throw from us here in Church House. It’s uniting Britain’s brightest brains from across Whitehall and the private sector to defend Britain’s cyber infrastructure.
“Today, I can announce we’re investing £265 million in a pioneering approach to root out cyber vulnerabilities within our military platforms and wider cyber dependent systems.
“The UK is a world leader in cyber security, and we recognise that cyber risk is one of the greatest threats we face in the modern world.
“It is crucial that we innovate and stay ahead of this ever-changing danger. By investing in this programme we’re helping ensure the UK is fully protected.”
Post written by: Matt Brown
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