New cybersecurity law to safeguard hospitals, transport networks in UK
The Cyber Security and Resilience Bill, presented to parliament on Wednesday, will also extend to medium and large companies that provide essential IT services, including cybersecurity and technical support, to both public and private organizations. These firms will, for the first time, face direct regulation and be required to report significant cyber incidents without delay.
Regulators will receive enhanced powers to enforce cybersecurity standards for critical suppliers, such as companies delivering medical diagnostics to the NHS or chemicals to water utilities, helping to close potential vulnerabilities in national supply chains.
The legislation introduces stricter, turnover-based penalties for serious breaches and grants the technology secretary the authority to direct regulators and major organizations to act urgently if a cyber threat threatens national security.
“Cybersecurity is national security. This legislation will enable us to confront those who would disrupt our way of life. I’m sending them a clear message: the UK is no easy target,” Science, Innovation and Technology Secretary Liz Kendall said in a statement.
Government estimates indicate that cyberattacks cost the UK economy approximately £14.7 billion ($19.3 billion) annually, equivalent to about 0.5% of GDP.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
