The British government has ordered an inquiry of its cybersecurity in the wake of U.S. intel on Russian hacks during the presidential campaign. A comprehensive cybersecurity strategy is being formulated, with a budget of £1.9 billion allocated until 2021.
Margaret Beckett, Chair of the Joint Committee on the National Security Strategy in the UK, said that attention has recently focused on the potential exploitation of the cyber domain by other states and associated actors for political purposes. The Committee is seeking input on the cybersecurity strategy for the UK and the level of government involvement, and participation in the cybersecurity of the private sector is currently being decided.
The UK is focusing on developing state-sponsored offensive cyber capabilities, and is formulating the norms for the use of such capabilities.
Meanwhile, the EU is considering a plan to test banks defenses against cyber-attacks, similar to a plan already initiated by the Bank of England.
Since 2013, the Bank of England has required major firms to undergo a stress test known as CBEST. In November 2016, authorities also outlined plans to make firms focus on their own security by encouraging them to conduct regular security checks themselves. In addition to this, the Bank of England also carries out spot checks.
Now, the EU is considering similar cyber stress testing, following concerns over the sector’s vulnerability. Further details are expected in the summer once the possibilities have been assessed.