£17m fine for failing to protect against hacker attack

The BBC is reporting that a cyber attack could cost firms up to £17m in fines or 4% of global turnover if they fail to protect themselves.

The crackdown is aimed at making sure services such as water, energy, transport and health firms are safeguarded against attack…

…Firms will also be required to show they have a strategy to cover power failures and environmental disasters.

Digital Minister Matt Hancock said any fines would be a last resort.

They would not apply to firms which had put safeguards in place but still suffered an attack, the Department for Digital, Culture, Media and Sport (DCMS) said…

…Mr Hancock, who is launching a consultation on the plans, said: “We want the UK to be the safest place in the world to live and be online, with our essential services and infrastructure prepared for the increasing risk of cyber-attack.”

The DCMS said firms that take cyber-security seriously should already have measures in place to prevent attacks or systems failures…

…consultation was aimed at determining how to implement the Network and Information Systems (NIS) directive…

It is separate from the General Data Protection Regulations (GDPR), which are aimed at protecting data, rather than services.

The GDPR will replace the UK’s Data Protection Act 1998 from 25 May next year…