National Cyber Security Centre to prioritise financial sector

Among the first jobs for then National Cyber Security Centre (NCSC) will be collaborating with the Bank of England on producing advice to offer the financial sector on how to effectively manage cyber security.

Cabinet Office minister Matthew Hancock said:

“This important work with the Bank of England is paramount to ensuring that businesses of all shapes and sizes understand the threats and what they can do to mitigate them.

“We’ll do this by informing the entire business community and public sector about emerging threats, providing support when attacks happen and educating everyone on how best to stay safe online.”

The one-stop security shop was announced in the government’s five-year plan for National Cyber Security, supported by a £1.9bn investment.

Chancellor George Osborne said that the NCSC will feature a team trained to tackle cyber incidents and ensure more effective and speedy responses.

He added that the authority will act as a single source of support and advice to the economy, ridding any need for the current crop of multiple bodies.

The NCSC is set to launch in October. It will be based in the capital and led by GCHQ Director General of Government and Industry Cyber Security, Ciaran Martin.

The centre will no doubt be a great source of advice and education for UK firms, but SMEs also have a role to play and that begins with creating cyber security jobs, allowing an immediate point of contact capable of taking immediate action in light of an attack. Further, they would be better placed to act on advice from the NCSC.