News

Cyber summit launches with report showing growing threat to UK businesses

Created:  10 Apr 2018
Updated:  10 Apr 2018
The NCSC welcomes specialists from across government, industry and law enforcement to the start of their flagship CYBERUK 2018 summit in the Manchester Central Convention Complex.
  • 1,800 cyber security experts to take part in NCSC’s three-day CYBERUK 2018 conference
  • Summit to include keynote speeches, workshops and state-of-the-art exhibition displays
  • Report on risk to UK businesses published by NCSC and NCA to mark the conference
  • ‘The Cyber Threat to UK Business’ finds threat is “bigger than ever” and best way to defend against it is collaboration between government, law enforcement and business

CRIMINALS are launching more online attacks on UK businesses than ever before, it has been revealed in a report published to mark the start of the country’s biggest cyber security conference.

The National Cyber Security Centre (NCSC), which is part of GCHQ, will today (April 10) welcome specialists from across government, industry and law enforcement to the start of their flagship CYBERUK 2018 summit in the Manchester Central Convention Complex.

'The Cyber Threat to UK Business', jointly authored by the NCSC and the National Crime Agency (NCA) in collaboration with industry partners, has been published to mark the start of the conference.

The report details some of the biggest cyber attacks from the last year and notes that risks to UK businesses continue to grow. Emerging threats are also highlighted, such as theft from cloud storage and cryptojacking, in which computers are hijacked to create crypto currencies such as bitcoin.

The report acknowledges that a basic cyber security posture is no longer enough and most attacks will be defeated by organisations which prioritise cyber security and work closely with government and law enforcement.

Ciaran Martin, Chief Executive of the NCSC, said:

“We are fortunate to be able to draw on the cyber crime fighting expertise of our law enforcement colleagues in the National Crime Agency.

“This joint report brings together the combined expertise of the NCA and the NCSC. The key to better cyber security is understanding the problem and taking practical steps to reduce risk.

“This report sets out to explain what terms like cryptojacking and ransomware really mean for businesses and citizens, and using case studies, shows what can happen when the right protections aren’t in place”

The Cyber Threat to UK Business report notes that firms are under increasing threat from ransomware, data breaches and supply chain weaknesses which can mean serious financial and reputational damage.

It sites real-life case studies from businesses damaged by cyber crime, including ransomware attacks that have affected companies ranging from multi-national firms to independent restaurants.

While law enforcement and government have successfully battled many cyber threats this year, under-reporting of cyber crime by businesses means crucial evidence and intelligence about cyber threats and offenders is lost.

Donald Toon, director of the NCA’s Prosperity Command, said:

“UK business faces a cyber threat which is growing in scale and complexity. Organisations which don’t take cyber security extremely seriously in the next year are risking serious financial and reputational consequences.

“By increasing collaboration between law enforcement, government and industry we will make sure the UK is a safe place to do business and hostile zone for cyber criminals.

“Full and early reporting of cyber crime to Action Fraud will be essential to our efforts.”

CYBERUK 2018 will see state-of-the-art industry and government displays on the exhibition floor demonstrating cutting edge technology to help the UK thrive in the digital age.

Simultaneously, a series of lectures keynotes, panel debates and workshops delivered around the NCSC’s four objectives – nurture cyber skills and understand, reduce and respond to attacks.

Today’s sessions will include the Bank of England’s Chief Operating Officer Joanna Place giving advice on engaging boards on cyber security and the ICO’s Deputy Commissioner James Dipple-Johnson giving an update on the impending GDPR implementation.

 

Notes to editors

CYBERUK 2018

You can read more about CYBERUK, including specifics around the running orders, at the main CYBERUK 2018 page.
 

CYBERUK In Practice (10-11 April)

  • Bringing together 1200+ information security professionals.
  • This will include specialists in the design and development of online services and systems, plus professionals in procurement and delivery.
  • It will be an opportunity to share best practice, learn about the latest security threats and solutions, and consider the growing challenges we all face.

 

CYBERUK Leadership (12 April)

  • The Government’s leadership event for business and public sector decision makers and strategists. 
  • This is where key senior staff – policy makers, CEOs and thought leaders – will learn about and contribute to the development of the latest thinking on how cyber security and business acumen come together to deliver successful business outcomes.

The streams for the plenary sessions are;

  • Reduce (sponsored by Roke / QinetiQ)
  • Respond (sponsored by Nominet)
  • Understand (sponsored by BAE Systems)
  • Nurture (sponsored by BT)
     

About the agencies

  • The UK Government is fully committed to defending against cyber threats and address the cyber skills gap to develop and grow talent.
  • The NCSC was created as part of the five year National Cyber Security Strategy (NCSS) announced in 2016, supported by £1.9billion of transformational investment.
  • The NCSC is the world-class cyber arm of GCHQ – a leading technical authority on cyber security. Since launching in October 2016, it has responded to more than 800 incidents and its Active Cyber Defence has prevented more than 54 million malicious emails spoofing government being sent.

The National Crime Agency hosts the National Cyber Crime Unit, which leads the UK’s law enforcement response to the cyber threat.

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