UK Government announces strengthening of Cybersecurity regulations
In briefing notes accompanying the King’s Speech to Parliament on 17 July 2024, the UK Government detailed 40 new bills; among the new legislative agenda was the Cyber Security and Resilience Bill.
The digital landscape is a double-edged sword. While it facilitates growth and innovation, it also exposes vulnerabilities that hostile actors can exploit, as was seen in the June ransomware attack on the NHS. Attacks not only disrupt services but also pose significant risks to national security and economic stability.
Government research has found that half of all businesses, and almost a third of charities, were directly impacted by cyberattacks in the 12 months to April 2024. Phishing attacks were the most common, though malware and impersonation attacks remained prevalent.
The new Bill seeks to address such vulnerabilities, ensuring that critical infrastructure and digital services are better protected. While the final provisions of the Bill will be subject to Parliamentary debate, here’s what we can currently expect:
Expanding Regulatory Remit
One of the core elements of the Bill is the expansion of existing regulations to cover a broader range of industries, mandating increased protection where cybersecurity regulations were previously lacking.
Empowering Regulators
The Bill will put regulators on a stronger footing to ensure that essential safety measures are being implemented. This includes potential cost recovery mechanisms to provide resources to regulators, enabling them to proactively investigate and address vulnerabilities.
Enhanced Incident Reporting
To improve understanding and awareness of threat patterns, the new Bill will aim to increase requirements for businesses to report cyberattacks.
As explained in the Government’s briefing notes, existing cybersecurity regulations inherited from the European Union after Brexit have since been outpaced by the EU, leaving the UK vulnerable to cyberattacks. The Cyber Security and Resilience Bill represents a significant step forward in efforts to fortify the UK’s digital defences.
A concerted effort will be required from businesses, charities and Managed Service Providers, such as San-iT, to enact the final provisions of the Bill, should it pass through Parliament and become law. Watch this space.
