British Government Funds Chip Maker To Build Cyber Resilience
Uploaded on 2019-10-28 in TECHNOLOGY--Developments, GOVERNMENT-National, FREE TO VIEW, TECHNOLOGY--Resilience
British businesses and the public are said to be soon better protected from hostile cyber-attacks and online threats. This includes disinformation and cyber-bullying which a new government-backed partnership with industry is aiming to reduce said the UK’s Business Secretary Andrea Leadsom on Friday 18 October.
The government is partnering with Arm in a new project to develop new chip technologies that are more resistant to cyber threats, backed by £36 million in funding.
This is the next phase of the government’s Digital Security by Design initiative, also backed by Google and Microsoft.
Around a third (32%) of businesses and 2 in 10 charities (22%) report having cyber security breaches or attacks in the last 12 months (DCMS Cyber Security Breaches Survey 2019.
The most common types of Cyber Attacks are:
• phishing attacks (identified by 80% of these businesses and 81% of these charities)
• others impersonating an organisation in emails or online (28% of these businesses and 20% of these charities)
• viruses, spyware or malware, including ransomware attacks (27% of these businesses and 18% of these charities)
• Arm’s government-funded project will span a 5-year period and involve software companies, tools developers and leading academic institutions, including Cambridge University and Edinburgh University; industry and academia will have the opportunity to test the new technology through a prototype called the ‘Morello Board’
• The £36 million funding forms part of the government’s Industrial Strategy Challenge Fund, through which it has teamed up with major industry names including Google and Microsoft to tackle some of the most damaging cyber security threats faced by the UK
The average cost of a cyber-attack on a business, where a breach has resulted in loss of data or assets, has increased by more than £1,000 since 2018 to £4,180.
While doing the basics, such as having strong passwords and updating software regularly are the best defence for homes and businesses, having innovative hardware and systems solutions are critical to defend advanced technology and our defence systems.
This project has the potential to prevent hackers from remotely taking control of computer systems as well as targeting cyber-attacks and breaches, meaning more businesses providing online services are better protected. It will also create new business opportunities and help boost productivity.
The project will help understand what businesses and individuals need to reduce the harm they are exposed to by using online platforms and will aim to develop more trustworthy technology.
This will help to prevent incidents of online fraud, phishing emails, impersonating organisations online and viruses or other malware like ransomware, which cost the UK economy millions of pounds in lost productivity.
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