U.K. Cyber Chief Cameron Says Ransomware Is Key Online Threat
15 Jun 2021

Professional criminals holding businesses to ransom — often with the support of nation-states — is the key online threat facing the U.K., the country’s cyber security chief will say Monday.

Lindy Cameron, who is chief executive of the National Cyber Security Centre, part of the spy agency GCHQ, will warn the market that ransomware has become increasingly “professional.” Some criminals even offer 24/7 call centers “to quickly pay the ransom and get yourself back online” or offering to research businesses’ “insurance policy to see if you are covered to pay ransoms,” she’ll say, according to her office.

“These criminals don’t exist in a vacuum,” Cameron will say in a lecture to the Royal United Services Institute in London. “They are often enabled and facilitated by states acting with impunity.”

On Sunday, the Group of Seven used its final communique to call on Russia “to identify, disrupt, and hold to account those within its borders who conduct ransomware attacks, abuse virtual currency to launder ransoms, and other cyber crimes.”

At the NATO summit in Brussels on Monday, U.K. Prime Minister Boris Johnson is expected to tell leaders the organization must invest in research and development to tackle future challenges including cyber defense, his office said in a statement.

‘Emerging Threats’

“NATO owes it to the billion people we keep safe every day to continually adapt and evolve to meet new challenges and face down emerging threats,” Johnson said in the statement.

By Kitty Donaldson, Bloomberg, 14 June 2021

Read more at Bloomberg

RiskScreen: Eliminating Financial Crime with Smart Technology

You can claim CPD minutes for this content, by signing up to our CPD Wallet