The latest cyber threats against NATO countries could mean future attacks on global and UK organisations. In preparation for this, the UK Government is urging businesses at home and abroad to act and ensure that they meet cyber security standards.
The Cyber Security Export Strategy has been put in place to support UK companies that want to export their cyber security services or products to allied countries.
Find out more about the new strategy below.
What is the Cyber Security Export Strategy?
The Cyber Security Export Strategy has been released by the Department for International Trade (DIT). It outlines how the UK Government will support the cyber security sector in the current high threat climate.
It has already been stated by the head of the UK’s National Cyber Security Centre that it is only a matter of time before there is a major cyber attack on the UK. Possible targets could include future elections and Britain’s critical infrastructure.
Tackling foreign threats
The new strategy also aims to tackle foreign threats head on. When International Trade Secretary Dr Liam Fox launched the Government’s new Cyber Security Export Strategy he referenced the recent poisoning of Sergei Skripal and how regular Russian cyber attacks are becoming.
“Recent events show that the UK faces a diverse range of threats from hostile state actors… In an increasingly digital world, it’s vital that we improve our cyber capabilities, which are crucial for national security and prosperity.”
What sectors will the new strategy target?
Moving forward, DIT would like to engage with businesses and organisations in the UK and abroad and assist cyber security companies that want to build business relationships in the UK and with allied countries.
The new strategy aims to support cyber security firms that work with the following areas:
Government and Healthcare
Ransomware attacks like WannaCry have shown the vulnerability of public sector organisations around the world.
One year on from this attack, it has been reported that the NHS still has a long way to go before its trusts are completely cyber secure.
Private sector organisations will inevitably play a huge part both in strengthening cyber security and in the digital and IT transformation and modernisation needed not just by the NHS but by public sector organisations around the world.
Financial Services
With eCommerce and contactless payments becoming more and more popular, companies that work in financial services must prepare for potential hacks.
In this sector, consumer trust is incredibly important and poor cyber security standards could convince finance customers to move to another provider.
Automotive
New generation cars may well be the next victim of cyber attacks as the innovative technology could be vulnerable. Cars are already being ‘hacked’ by thieves using transmitters to enhance the signal from a vehicle’s entry system, kept securely in the owner’s house, in order to unlock a car on a drive and steal it without triggering the vehicle’s security system.
Businesses working in the automotive sector are already investing in cyber security with significant growth expected in global spending in this area by the early 2020s. Statista.com quotes figures of $20 million for 2016, with projections of $770 million by 2023*.
Energy and Critical National Infrastructure
The Government has reported that businesses within the energy and critical national infrastructure sectors are further behind on technological advancements than expected. Many are still using legacy technologies and software programs that require ongoing maintenance. WannaCry revealed the risks of using out-of-date software – many of the NHS organisations affected were using such technologies.
Digital Infrastructure
The Cyber Security Export Strategy has highlighted how vulnerabilities in digital infrastructure could cause severe disruption or loss of personal data:
“Digital infrastructure is increasingly ubiquitous, ranging from smart ticketing on urban rail to technology-enabled customer journeys through the world’s airports.”
Find cyber security opportunities
With the Government releasing the Cyber Security Export Strategy, now is the time for UK cyber security businesses to start looking for work at home and in allied countries.
If your company provides cyber security services and wants to work with the government and defence sector, register on our portal today for free.