Home Business NewsBusiness Cyber-attacks: Businesses that fail to protect themselves will lose government contracts

Cyber-attacks: Businesses that fail to protect themselves will lose government contracts

by LLB Reporter
27th Mar 17 1:11 pm

Culture Minister, Mathew Hancock MP

Matt Hancock, Culture Minister has announced stricter guidelines for companies that are suppliers to the government that are not concentrating on the threat posed by cyber criminals and terrorists.

He said: “If you’re not concentrating on cyber, you are courting chaos.”

Suppliers who are already engaged with or are wanting to engage with the British government will have to complete a cyber essentials scheme. This is to encourage and ensure that businesses own supply chains meet with the gold standard.

The Institute of Directors report concluded that many firms do not know how to safe guard against security breaches despite being aware of the cyber threat.

Stephen Martin, IoD director general said: “Business leaders are still putting cyber security on the back burner. The results, even for small and medium-sized businesses, could be catastrophic.”

The report further concluded that 4 in 10 businesses did not know which law agency to contact if they were victims of fraud.

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