New cyber crime unit will help business build defences
The government has created a new National Cyber Security Centre to address failings in the digital defences of companies and organisations. It has been a frequent complaint from the private sector that there has been no obvious, formalised point of contact between business and the government, at a strategic level, over online security concerns. The new body, which will work with GCHQ to try to bolster cyber security in the private sector, is to form the backbone of the government's new national cyber security plan. Ciaran Martin, GCHQ's Director-General for cyber security, has been appointed to run the new body. Ian Levy, GCHQ's Technical Director of cyber, will also join. The NCSC will liaise with the Bank of England to co-ordinate existing efforts in the financial sector. Figures in the government's annual Information Security Breaches Survey showed that last year the average cost to large businesses of security breaches ranged from £275,000 to £375,000. Small firms were typically hit for between £6,500 and £14,000. However, the worst single cyber attacks cost large operations between £1.5m and £3.1m - more than double the average suffered in 2014.
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