The cyber-attack cost the company £42 million and it was fined £400,000 for security failings which enabled the teenager to access customer’s data “with ease”.
These breaches are becoming more frequent and with this in mind, the government has recently announced a new 5 year plan to tackle the problem. The government will pump £1.9 billion into a scheme to help fight cyber-crime and develop a world class cyber security industry and workforce.
Part of the strategy is to ensure organisations have the necessary processes in place to help prevent cyber-attacks.
National Cyber Security Strategy 2016 to 2021
Chancellor of the Exchequer, Philip Hammond said:
“Britain is already an acknowledged global leader in cyber security thanks to our investment of over £860 million in the last Parliament, but we must now keep up with the scale and pace of the threats we face. Our new strategy, underpinned by £1.9 billion of support over 5 years and excellent partnerships with industry and academia, will allow us to take even greater steps to defend ourselves in cyberspace and to strike back when we are attacked.”
Protect your business with ISO 27001
It is not only large corporations that are under attack; small and medium sized organisations are also being targeted and reporting a rise in cyber-attacks on their businesses.
One way of ensuring that your management team and employees are working to effective processes for minimising the risk of a cyber breach is to achieve ISO 27001 certification. The standard is internationally recognised and establishes processes for identifying data at risk, assessing threats and putting in place systems, controls and procedures to minimise the risk.
ISO 27001 will provide a strategic plan for your business that will ensure you and your workforce are capable and ready to deal with a cyber threat.
ISO 27001 certification will also demonstrate to your customers that you have implemented controls and procedures that will help to maintain continuity of supply and security of their data. In some cases, it may be a requirement when tendering for business, particularly in the public sector.
Find out more about what is involved in achieving ISO 27001 by talking to one of our experienced advisors.