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George Osborne, UK Chancellor, has vowed to invest an additional £1.9 billion over a five-year period.
This follows GCHQ, the UK-based spy agency, which has confessed that the country is behind in the cyber war, in spite of already having invested a significant amount to resolve the issue.
Alex Dewedney, cyber security director for CESG, which is GCHQ’s info security arm, said that there will need to be substantial more investment made to control cyber threats.
Speaking at San Francisco’s RSO Conference, Dewedney told the audience:
“I think the best way to sum up the challenge we face is that while we’ve done a lot over the past five years and spent quite a lot of money as a Government, particularly in those years of austerity we’ve been through, the bottom line is it hasn’t worked.”
The Government has spent £950m on IT security in the last five years. The Chancellor plans to invest an additional £1.9bn. Along with the investment made in IT system protection, £3.2bn is in line for further investment by the end of 2021.
The government is clearly making an effort to resolve the IT security issue in the UK, but it hasn’t been enough so far, illustrating the lengths that cyber criminals are willing to go to.
Part of the war on security threats needs to include UK businesses also stepping up to the plate. The most sensible action that firms can take is to post IT security jobs so that they can be confident that they have someone with knowledge and experience on board, should they fall foul of an attack.
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