The cyber onslaught continues, from all directions. Denial-of-service hackers, financial fraudsters, organised criminal gangs, terrorists, unfriendly states – wherever the attacks come from, they are increasing in number and becoming more difficult to defend against.
Hardly a day goes by without news of another cyber breach. A British bank is hacked and £2.5m is stolen from 20,000 customers. A hoax press release is emailed from a French construction company and briefly wipes €6bn off its share value. A US server company is attacked and millions of people are denied access to major websites.
Businesses are having to invest more money and effort to make cyberspace safer for themselves and their customers. Governments are ramping up the defences too. The European Union’s Network and Information Security (NIS) Directive, which will be transposed into the national laws of all member states by the spring of 2018, is intended to boost the overall level of cyber security in the EU. Individual states are taking additional measures, as exemplified by the UK which in 2016 extended its National Cyber Security Strategy for another five years with a budget of £1.9bn. Brexit also throws up some big questions. Will Britain continue to comply with the NIS Directive and other EU legislation in this area? And if Britain leaves Europol, the EU’s law enforcement agency, will that degrade Europe’s cyber defences?
The fourth annual FT Cyber Security Summit Europe will discuss the seriousness of the cyber threat facing Europe and explore the solutions. Moderated by Financial Times journalists, this must-attend event will provide a thorough assessment of the dangers in cyberspace and how businesses and governments are investing in better defences for a more secure future.