Companies could face fines of up to four per cent or £17m for cyber-security failings


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Under new government proposals, companies such as transport, energy and health providers could be facing multimillion pound fines if they are without strong cyber-security measures.

The security measures that will have to be in place will be having quick recovery methods in place, detecting cyber-attacks and proper staff training.

The fines will be up to four per cent or £17m of their global turnover.

Tuesday will see a consultation that is being launched by the Department for Digital, Culture, Media and Sport (DCMS) and the Network Information Systems should be launched in May 2018.

Matt Hancock the minister for digital, said: “We want the UK to be the safest place in the world to live and be online, with our essential services and infrastructure prepared for the increasing risk of cyber-attack and more resilient against other threats such as power failures and environmental hazards.”