Long overdue updates include expanded mandatory security incident reporting
The Cyber Security and Resilience Bill announced in the King's Speech follows a series of high-profile attacks affecting critical national infrastructure , and with current cross-sector rules heavily outdated, the regulations will seek to catch up with other territories like the EU.are also fresh in the memory, but for such a landmark piece of new legislation, it's decidedly lacking in key details.
But perhaps the standout update brought by the CSR Bill is the expansion of mandatory security incident reporting. The EU's NIS2 directive in 2022 made this a reality before the UK and US also recently proposed a similar update to. It will give sector regulators a bank of data they can use to inform others of attacks happening in real time, and hopefully prevent attacks against the wider industry.
The specifics of how this will take shape are currently unknown, but there will be an increase in government-mandated incident reporting for in-scope regulated organizations. However, there is no mention of fines in the CSR Bill's announcement and there is no indication about whether they will be introduced later down the road or not. But, with the relative success of GDPR's fines, even as a scare tactic, it would be reasonable to expect some kind of punishment for non-compliance.
"So I think that that's an opportunity here and I think that's possibly a way to get this to cascade down properly. That will incentivize the regulators to pass it down to the industries, the industries will then need to push that down to the supply chain. Cassidy said that from a technical perspective, it's all possible, but the way it's going to be implemented will require some thought.
"But what we see from the statistics is that most of the breaches happen because of people.
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