In wake of increasing cybercrimes, CEO of the National Cyber Security Centre- part of GCHQ, Lindy Cameron is expected to warn about the impact of ransomware which is the biggest threat to online security for most businesses and people in the UK.
Sources have reported that Cameron will speak about the phenomenon, where the cyber criminals encrypt data and enforce payments for its restoration is increasing and becoming more professionalized.
During her addressal, Cameron will say that amid the malicious strategic threat posed by online spying by China, Russia and other hostile states, ransomware crisis has become highly urgent.
For majority of UK businesses and residents as well as large number of crucial national infrastructure providers and government service providers, the key threat are cybercriminals and not state actors, Cameron is expected to say.
Cases of ransomware have reportedly increased in the last two years globally as cyber criminals operating from countries like Russia and other former Soviet states, make millions of dollars through money extortion from businesses.
If sources are to be believed, cyber criminals often observe their targets and make demands as large as the size of the customer. Many small companies such as hairdressers have reportedly been targeted where payment around £1,500 were demanded. However, most of their targets are bigger companies that have been disabled by the attacks.
During the G7 summit, leaders of major industrial countries agreed upon taking steps for addressing the issue. The final communique of the summit called on Russia to hold the ransomware attackers within its borders and stated that the G7 nations would work together to address the elevating threat.
Nato is also anticipated to agree on new cybersecurity defense policy at its annual summit in Brussels on Monday (June 14) with the UK’s support.
Cameron argues that the country, needed to coordinate a whole-of-government response, improving cyber resilience, engaging in international and diplomatic initiatives, and seeking strongest criminal justice outcomes.