The cyber attacks on M&S, Co-op, and Harrods should serve as a «wake-up call,» as a cabinet minister emphasizes the need for increased investment in cybersecurity.
These attacks have resulted in empty shelves, the inability to pay by contactless card, and difficulties placing online orders over the past two weeks.
Cabinet minister Pat McFadden is scheduled to address CyberUK, a government-organized event in Manchester, where he will stress the severity of cyber attacks as acts of serious organized crime.
He will emphasize that cyber attacks aim to cause damage and extort, likening them to a digital form of an old-fashioned shake-down, where businesses are threatened unless they pay off the perpetrators.
McFadden will use the platform to underscore the essential nature of cybersecurity for businesses across the UK and announce plans to enhance cybersecurity measures.
McFadden will also highlight the economic potential of the digital world, particularly in cybersecurity, for the entire UK.
The government is committed to boosting the sector to create jobs and safeguard growth in various industries by enhancing cybersecurity measures.
With approximately 67,000 cybersecurity jobs in the UK, a 12% increase in revenues to £13bn year-on-year, and an average salary of £54,600 in northwest England, the sector is thriving.
An additional £7 million will be allocated to the Laboratory of AI Security Research (LASR), established by McFadden to bring together industry, academic, and government experts to evaluate the impact of AI on national security.
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M&S has had to halt hiring people due to the cyber attack. Pic: M&S
Furthermore, McFadden will announce a new collaboration between LASR and Cisco, a leading American tech company, to address cybersecurity challenges nationwide and establish a «demonstrator» in the North West to showcase collaborative efforts in managing AI-related risks and developing skills.
An additional £1.1 million will be provided to the Moldovan government to bolster security measures for the upcoming parliamentary elections, following allegations of Russian interference in the previous election.
Ukraine will receive £8 million for its cyber program to counter cyber aggression from the Kremlin over the next year.
An M&S in Aberdeen with empty shelves. Pic: SponPlague
«The potential for cybersecurity to drive economic growth, create jobs, and offer opportunities is immense,» McFadden emphasizes.
With over 2,000 cybersecurity businesses in the UK, the sector is poised for growth, and efforts are being made to ensure its benefits reach communities nationwide.
As part of the upcoming industrial strategy, cybersecurity will be a key focus to secure Britain’s future and establish the UK as a global leader in cybersecurity for years to come.