Latest news with #CyberSecurityandResilienceBill
Time of India
07-05-2025
- Business
- Time of India
Britain to face more cyberattacks as AI adoption grows, minister says
Live Events The growth of AI will increase the number and sophistication of cyberattacks on Britain, senior minister Pat McFadden said on companies, public bodies and institutions have been hit by a wave of cyberattacks in the past few years, costing them tens of millions of pounds and often months of the last three weeks British retailers Marks & Spencer , the Co-op Group and Harrods have all been hit by attacks, with M&S still unable to take online clothing companies have not given any details on the nature of the attacks."Today we are declassifying an intelligence assessment that shows AI is going to increase not only the frequency but the intensity of cyberattacks in the coming years," said McFadden, who as cabinet office minister is responsible for UK cyber security."Our security systems will only remain secure if they keep pace with what our adversaries are doing," he at the National Cyber Security Centre's CyberUK 2025 conference, he said that last year the NCSC received almost 2,000 reports of cyberattacks, with almost 90 deemed "significant" and 12 at "the very top end of severity". This was three times the number of severe attacks compared to the year said the recent cyberattacks on British retailers should serve as a wake-up call for everyone, including government and the public sector, businesses and organisations."Cyber security isn't a luxury, it's an absolute necessity."He said the government will later this year publish a new cyber security strategy, while new legislation, the Cyber Security and Resilience Bill, will grant government new powers to direct regulated organisations to reinforce their cyber defences.M&S and the Co-op are widely reported to have been the victims of ransomware attacks where criminals infiltrate companies' computer systems, encrypt them and demand payment before allowing them to resume CEO Richard Horne told the conference he wanted to see a future where paying ransoms is no longer considered an option, where the business model for the attackers no longer works.
Yahoo
07-05-2025
- Business
- Yahoo
Britain to face more cyberattacks as AI adoption grows, minister says
LONDON (Reuters) -The growth of AI will increase the number and sophistication of cyberattacks on Britain, senior minister Pat McFadden said on Wednesday. British companies, public bodies and institutions have been hit by a wave of cyberattacks in the past few years, costing them tens of millions of pounds and often months of disruption. Over the last three weeks British retailers Marks & Spencer, the Co-op Group and Harrods have all been hit by attacks, with M&S still unable to take online clothing orders. The companies have not given any details on the nature of the attacks. "Today we are declassifying an intelligence assessment that shows AI is going to increase not only the frequency but the intensity of cyberattacks in the coming years," said McFadden, who as cabinet office minister is responsible for UK cyber security. "Our security systems will only remain secure if they keep pace with what our adversaries are doing," he said. Speaking at the National Cyber Security Centre's CyberUK 2025 conference, he said that last year the NCSC received almost 2,000 reports of cyberattacks, with almost 90 deemed "significant" and 12 at "the very top end of severity". This was three times the number of severe attacks compared to the year before. McFadden said the recent cyberattacks on British retailers should serve as a wake-up call for everyone, including government and the public sector, businesses and organisations. "Cyber security isn't a luxury, it's an absolute necessity." He said the government will later this year publish a new cyber security strategy, while new legislation, the Cyber Security and Resilience Bill, will grant government new powers to direct regulated organisations to reinforce their cyber defences. M&S and the Co-op are widely reported to have been the victims of ransomware attacks where criminals infiltrate companies' computer systems, encrypt them and demand payment before allowing them to resume control. NCSC CEO Richard Horne told the conference he wanted to see a future where paying ransoms is no longer considered an option, where the business model for the attackers no longer works. (Reporting by James Davey. Editing by Jane Merriman)
The Star
07-05-2025
- Business
- The Star
Britain to face more cyberattacks as AI adoption grows, minister says
FILE PHOTO: A sign warning of temporary delays with Click & Collect parcels stands at an M&S Food Hall in London, Britain, April 30, 2025. REUTERS/Suzanne Plunkett/File Photo LONDON (Reuters) -The growth of AI will increase the number and sophistication of cyberattacks on Britain, senior minister Pat McFadden said on Wednesday. British companies, public bodies and institutions have been hit by a wave of cyberattacks in the past few years, costing them tens of millions of pounds and often months of disruption. Over the last three weeks British retailers Marks & Spencer, the Co-op Group and Harrods have all been hit by attacks, with M&S still unable to take online clothing orders. The companies have not given any details on the nature of the attacks. "Today we are declassifying an intelligence assessment that shows AI is going to increase not only the frequency but the intensity of cyberattacks in the coming years," said McFadden, who as cabinet office minister is responsible for UK cyber security. "Our security systems will only remain secure if they keep pace with what our adversaries are doing," he said. Speaking at the National Cyber Security Centre's CyberUK 2025 conference, he said that last year the NCSC received almost 2,000 reports of cyberattacks, with almost 90 deemed "significant" and 12 at "the very top end of severity". This was three times the number of severe attacks compared to the year before. McFadden said the recent cyberattacks on British retailers should serve as a wake-up call for everyone, including government and the public sector, businesses and organisations. "Cyber security isn't a luxury, it's an absolute necessity." He said the government will later this year publish a new cyber security strategy, while new legislation, the Cyber Security and Resilience Bill, will grant government new powers to direct regulated organisations to reinforce their cyber defences. M&S and the Co-op are widely reported to have been the victims of ransomware attacks where criminals infiltrate companies' computer systems, encrypt them and demand payment before allowing them to resume control. NCSC CEO Richard Horne told the conference he wanted to see a future where paying ransoms is no longer considered an option, where the business model for the attackers no longer works. (Reporting by James Davey. Editing by Jane Merriman)
Reuters
07-05-2025
- Business
- Reuters
Britain to face more cyberattacks as AI adoption grows, minister says
LONDON, May 7 (Reuters) - The growth of AI will increase the number and sophistication of cyberattacks on Britain, senior minister Pat McFadden said on Wednesday. British companies, public bodies and institutions have been hit by a wave of cyberattacks in the past few years, costing them tens of millions of pounds and often months of disruption. here. The companies have not given any details on the nature of the attacks. "Today we are declassifying an intelligence assessment that shows AI is going to increase not only the frequency but the intensity of cyberattacks in the coming years," said McFadden, who as cabinet office minister is responsible for UK cyber security. "Our security systems will only remain secure if they keep pace with what our adversaries are doing," he said. Speaking at the National Cyber Security Centre's CyberUK 2025 conference, he said that last year the NCSC received almost 2,000 reports of cyberattacks, with almost 90 deemed "significant" and 12 at "the very top end of severity". This was three times the number of severe attacks compared to the year before. McFadden said the recent cyberattacks on British retailers should serve as a wake-up call for everyone, including government and the public sector, businesses and organisations. "Cyber security isn't a luxury, it's an absolute necessity." He said the government will later this year publish a new cyber security strategy, while new legislation, the Cyber Security and Resilience Bill, will grant government new powers to direct regulated organisations to reinforce their cyber defences. M&S and the Co-op are widely reported to have been the victims of ransomware attacks where criminals infiltrate companies' computer systems, encrypt them and demand payment before allowing them to resume control. NCSC CEO Richard Horne told the conference he wanted to see a future where paying ransoms is no longer considered an option, where the business model for the attackers no longer works.
Irish Post
06-05-2025
- Business
- Irish Post
Wave of cyber attacks should be a ‘wake-up call' for retailers, says Minister Pat McFadden
CYBER security must be an 'absolute priority' for businesses, says Minister Pat McFadden. A wave of cyber attacks have hit British retailers in the past month including Marks & Spencer, the Co-op and Harrods. The ransomware attacks have left the stores unable to take online payment or fulfil online orders. Mr McFadden, who was born in Glasgow to parents from Co. Donegal, will address the issue at the CyberUK conference which opens in Manchester today. 'These attacks need to be a wake-up call for every business in the UK," he said ahead of the event. Pat McFadden is the Chancellor of the Duchy of Lancaster 'In a world where the cybercriminals targeting us are relentless in their pursuit of profit - with attempts being made every hour of every day - companies must treat cyber security as an absolute priority.' He added: 'We've watched in real-time the disruption these attacks have caused - including to working families going about their everyday lives. 'It serves as a powerful reminder that just as you would never leave your car or your house unlocked on your way to work. 'We have to treat our digital shop fronts the same way.' Mr McFadden, who is Chancellor of the Duchy of Lancaster, will further set out what action the government is taking to improve cyber security. 'We're modernising the way the state approaches cyber, through the Cyber Security and Resilience Bill,' he confirmed. 'That legislation will bolster our national defences,' he explained. 'It will grant new powers for the Technology Secretary to direct regulated organisations to reinforce their cyber defences and tt will require over 1,000 private IT providers to improve their data and network security. 'It will require companies to report a wider array of cyber incidents to the NCSC in the future - to help us build a clearer picture of who, and what, hostile actors are targeting.' On Friday, May 2 Mr McFadden led a briefing with national security officials and the head of the National Cyber Security Centre about support being provided to retailers In a message to business leaders across the UK, he added: 'We are ready to support you. 'The National Cyber Security Centre is standing ready to support businesses and provide advice, and guidance, on how to raise the cyber security bar.' See More: Busiesses, Cyber Attack, Minister Pat McFadden, Retailers
