CBN Newsletter | July 2025

Our monthly update to bring you the relevant, high-level policy and business news from across the cyber sector.

This month, we take a look at the Government’s new Industrial Strategy, Cyber Growth Action Plan, and a raft of other public and private sector announcements.

If you have any questions about the content, or believe we should add to our coverage, please do not hesitate to get in touch.

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Headlines

Government published Modern Industrial Strategy

Last month, the Department for Business and Trade (DBT) unveiled its long-awaited Modern Industrial Strategy, a ten-year long plan to increase economic growth and foreign direct investment in the UK, which focuses on eight growth-driving sectors..

The strategy has a strong focus on cybersecurity, with Chapter 3.3 of the Digital and Technology Plan dedicated solely to cyber. Viewed as a driver of growth and security, the plan states that the Government will aim to attract investors and support innovation across cyber skills, R&D, infrastructure, regulation and international partnerships; this is also supported by the billions in extra funding awarded to the Department for Science, Innovation and Technology (DSIT) in the recent Spending Review.

Key commitments include:

Supporting “home-grown innovation” with the Cyber Academic Startup Accelerator Programme (CyberASAP) and the Cyber Runway accelerator – with the ambition to support 250 companies and 28 academic “spinouts” by 2030 – in addition to the new National Cyber Innovation Centre in Cheltenham
Investing in innovation, including £670 million for quantum computers and £500 million delivered through the Sovereign AI Unit; £2m for the Cyber AI Hub in Belfast, as well as £25m for the CHERI CHERI secure chip blueprint
Addressing skills gaps by supporting the expansion of the Cyber Essentials scheme to 380 certification bodies, and through providing support for 415,000 students in the the CyberFirst bursary scheme and through National Cyber Force (NCF) partnerships

Separately, the Government has also recently published the 10-Year Infrastructure Strategy, which pledged at least £725 billion in public funding over the next decade to update the UK’s economic and social infrastructure.

Further, they also released the National Security Strategy (NSS); in recognising our reliance on digital infrastructure could increase vulnerabilities to cyber attacks, the strategy outlined the Government’s commitments to improving national security – most notably, it announced that a dedicated National Cyber Strategy will be published later this year to outline the Government’s approach to cybersecurity resilience, alongside a further Resilience Strategy targeting a broader range of risks and the upcoming Cyber Security and Resilience Bill, expected later this year.

If you have any questions regarding the Government’s work in this area, please contact us at secretariat@cb-network.org.

Cyber Growth Action Plan 2025

The government published the terms of reference for a new Cyber Growth Plan, which will identify possibilities for growth in the UK’s cyber sector. Led by Bristol University and Imperial College London, the recommendations are expected to be published “later this summer”.

Specifically, the review will cover the supply and demand of cyber goods and services, such as protective monitoring and encryption, identifying potential areas to capitalise on as well as explore the possibilities associated with AI and quantum. The Plan will feed into the forthcoming National Cyber Strategy.

Insights

Why Cybersecurity Needs Storytellers

How comms can combat misinformation and build trust

Liva Emmatty, our Communications Lead here at CBN, writes about how cybersecurity is as much about people and trust as it is about technology. With social media now the main news source for over half the global population, the spread of misinformation can leave organisations exposed to confusion and reputational harm.

Communications professionals in cybersecurity have a crucial role in busting common myths, simplifying technical concepts through relatable storytelling, and engaging with policymakers to ensure cyber policy reflects real-world challenges, and can help organisations prepare for crises by monitoring misinformation and responding quickly and clearly.

Interested in learning more about how you can benefit from communications support? Reach out to the CBN secretariat at secretariat@cb-network.org

News Updates

Political and policy updates

UK and Canada commit to cybersecurity cooperation

The UK and Canada have agreed to increase collaboration on cybersecurity as part of their broader partnership. This includes joint efforts to counter malicious cyber activity, information manipulation, and digital transnational repression.

The countries are launching the Joint Canada-UK Common Good Cyber Fund, with $5.7 million (£ ) in initial funding, to support civil society organizations at high risk from digital threats. Both countries will also work together to develop secure communications products, advance cryptography, and start new research partnerships to address gaps in AI security and improve AI models for national security purposes.

Ministerial comment on cyber and undersea cable threats

The Parliamentary Under-Secretary of State for Defence, Luke Pollard, said during a National Security Strategy Committee inquiry session that the Submarine Telegraph Act 1885, which imposes fines of up to £1,000 for cable sabotage, is somewhat “out of step” with modern-day risk, and the government may look to update the legislation in coming years.

Telecommunications Minister Chris Bryant explained that while current laws are functional for peacetime, there is a gap in how the UK addresses “grey zone threats”. He explained that the government is looking at creating a defence readiness bill in future, as noted in the recent Strategic Defence Review.

Threats to undersea cables pose a significant risk to the UK cyber industry by jeopardising the secure and reliable flow of data that underpins its operations and services. This session was part of a larger inquiry into the security of the UK’s undersea cables, which is set to be published later this year.

Parliamentary report on Iranian cyber threats

A report from Parliament’s Joint Intelligence and Security Committee has warned that Iran poses a significant and persistent cyber threat to the UK, on a par with those from Russia and China.

The report, which is based on classified intelligence and expert interviews, highlighted the damage caused by Iranian cyber attacks targeting UK companies, as well as ongoing efforts by the Islamic Revolutionary Guard Corps (IRGC) to conduct hostile operations within the UK. It also outlines the various measures the UK has taken to respond, including “offensive cyber” and to address “cyber espionage”.

Parliamentary questions

This month, members raised questions around ensuring the resilience of 6G infrastructure against cyber threats, the investigation into recent cyber attacks on Marks and Spencers and the support of high street retailers (also here) against these attacks. A member also asked about the safeguarding of air traffic control from cyber threats. Finally a member from the House of Lords raised a question on public cybersecurity vacancies and contracting.

NCSC updates

Guidance on password managers and passkeys: The NCSC advises using trusted password managers and adopting passkeys to improve online security, reduce password fatigue, and protect against phishing.
Principles for protecting sensitive personal data: The NCSC has published guidance outlining security principles for managing sensitive personal information in datasets, recommending strict access controls, encryption, and separation of access processes to reduce the risk of unauthorised access.
Cultural principles launched to embed cybersecurity: The NCSC has launched new Cyber Security Culture Principles, urging cyber security professionals, organisational leaders, and culture specialists to drive cultural change that embeds cyber security into everyday practices.

Business Updates

Cyber security investment drives growth but threat landscape intensifies

UK businesses are generating an estimated £27bn in additional annual revenue from investing in cyber security, according to research by ESET, a global cyber security provider. The data shows that 53% of UK firms report increased turnover linked to cyber investment, with 70% of those attributing growth to winning new business due to strong cyber credentials.

44% of firms reported that robust cyber security has enabled them to take more risks, such as entering new markets or adopting new technologies. However, the retail and public sectors remain frequent targets. ESET also found that 53% of UK firms have suffered at least one cyber attack, and that cyber crime has cost UK businesses £63bn in the past three years.

It was further reported that 77% of firms plan to increase their cyber security budgets as they increasingly see digital resilience as a commercial asset rather than just risk mitigation. Despite this, only 12% fully outsource their cyber operations, and 69% have experienced ransomware breaches.

Four arrested over cyber-attacks on M&S, Co-op and Harrods

The National Crime Agency (NCA) said two 19-year-old men, a 17-year-old boy and a 20-year-old woman had been apprehended on suspicion of breaching the Computer Misuse Act, blackmail, money laundering and joining the activities of organised crime.

About CBN

The Cybersecurity Business Network is a coalition of leading UK-based organisations committed to strengthening the nation’s cyber resilience, fostering innovation and supporting economic growth. Through collaboration and knowledge sharing, we empower our members to drive growth and set standards for excellence across the UK cyber sector.

As a member-led network, our ambition is to serve as the unified voice of the UK cyber industry, championing its interests, amplifying its potential, advocating for greater engagement and support from government, media, and the wider business community.

Membership to CBN is free for all cybersecurity organisations. If you are interested to hear more about CBN or want to become a member, then please reach out to secretariat@cb-network.org for more info.

Founded by Clarity

Global digital marketing and communications agency, providing fearless marketing and consultancy to the world’s most progressive companies.

We match data-driven science with human ingenuity to expand our full-funnel, specialist services and expertise. Our vision is to accelerate positive change and impact across the world. A firm believer of cybersecurity as an enabler of growth and resilience, we are proud to driving its prosperous impact forward. Get in touch with secretariat@cb-network.org to understand more on how Clarity can enhance reputation, create impact, and drive growth in your organisations.

Former Minister for Digital and Broadband Matt Warman announced as Chair of Cybersecurity Business Network

This appointment signifies ambitious growth, impact and value of the network as it seeks to create a platform for collaboration across UK cyber

This appointment signifies ambitious growth, impact and value of the network as it seeks to create a platform for collaboration across UK cyber

The Cybersecurity Business Network (CBN), is delighted to announce the appointment of former UK Minister for Digital and Broadband, Matt Warman, as Chair of the CBN. Matt’s appointment comes at a critical time for the UK’s cybersecurity sector, as recent high-profile cyberattacks across sectors have underscored the urgent need for enhanced industry collaboration, resilience and the right regulatory approach.

As Chair, Matt will spearhead the continued growth of the network, engaging various stakeholders from the private and public sectors, and championing the UK cyber sector as CBN aims to become a single unifying voice for UK based cyber organisations.

I am delighted to be joining the Cybersecurity Business Network as Chair. The UK’s dynamic and innovative cybersecurity industry is in need of a strong voice as it becomes an increasingly important sector both for economic growth and strengthening resilience…

As we have seen in recent months, malicious cyber attacks and geopolitical threats have presented UK businesses and consumers with a clear warning about how destructive cyber attacks can be, and we need to stay ahead of the curve. CBN is leading the industry collaboration by linking government, industry, and the media to strengthen defences and promote growth.
Matt Warman, Chair of CBN and Former Minster for Digital & Broadband

During his tenure as Minister for Digital, Matt developed the Government Cyber Security Strategy alongside the NCSC to improve cyber resilience in the public sector. He stimulated growth of the UK’s cyber sector with a 21% increase in start-up and scale up UK organisations, created an environment that enabled approx £2.6 billion of public and private investment to strengthen resilience and lay the foundation for the UK to become a leading global cyber innovator. Prior to government, Matt was a renowned technology journalist and worked as the Technology Editor for the Daily Telegraph.

Since the start of 2025, CBN has grown its presence in the UK cybersecurity landscape by expanding its membership and strengthening its partnerships. A key milestone was helping to establish the All Party Parliamentary Group (APPG) for Cyber Innovation (CBN runs the Secretariat) alongside parliamentarians, including Dan Aldridge MP, which has enabled a forum for MPs to connect with industry on cybersecurity’s most critical challenges. This announcement comes on the back of the latest report by the APPG for Cyber Innovation which explored and provided feedback on the development of the UK’s first ever dedicated Cyber Security and Resilience (CSR) Bill expected later this year.

“We’re very pleased to welcome Matt as our new Chair. His leadership comes at a crucial time for our organisation as we continue to grow and work to ensure the cybersecurity sector is properly represented. The recent high-profile cyber-attacks are a stark reminder of the need for a strong and unified cybersecurity industry – not only for protecting people and businesses, but also for supporting the UK’s economy and overall resilience. With Matt at the helm, we’re looking forward to championing the sector’s value, driving innovation, and helping to secure both economic growth and public confidence.
Nick Lansman, Founder of CBN

In addition to acting as a spokesman for CBN, he will also play a central role at the network’s events, chairing and supporting members as CBN looks to bring together industry, politics and media to drive collaborative and productive outcomes.

“As Chair, I will look to build on the initial success of the network, helping its growth, unifying our member community and championing our cyber security sector, enabling greater growth and public confidence. As part of this, I am most looking forward to hosting our inaugural Parliament & Cyber Conference in November, which will be a landmark event for the sector and Government as we collaborate on the path to growth and resilience.”
Matt Warman, Chair of CBN

Discover new opportunities by becoming a member of CBN today!

Our membership is open to UK based and operating cybersecurity organisations and offers opportunities to promote capabilities, share insights and develop lasting relationships

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Media contacts:

For any media queries, please contact secretariat@cb-network.org.

APPG for Cyber Innovation publishes feedback on the CSR Bill

The Cyber Innovation APPG publishes feedback on the upcoming Cyber Security & Resilience Bill. In this document, the All-Party Group provides an initial view on the upcoming Cyber Security and Resilience (CSR) Bill. It has been informed through a survey with 89 respondents from across the cyber sector and beyond, as well as input from a parliamentary roundtable discussion held under the Chatham House rule that brought together 17 representatives from Managed Service Providers (MSPs), cyber companies, academics and other organisations.

This document is aimed at supporting the development of the CSR Bill, and the Cyber Innovation APPG would be happy to facilitate further engagement between the Department for Science, Innovation and Technology (DSIT), Parliament, and the wider sector. The Bill provides a unique opportunity to improve cyber security and resilience in the UK.

The report collated the feedback from the APPG’s initial call for input and made clear some clear asks – notably the need for the Bill to widen its scope. As the first Act of Parliament to include “cyber” in the title, representing a fundamental step forward in how the UK approaches digital security. However, there is concern that this historic opportunity is too narrowly focused on compliance and prevention and not sufficiently ambitious in tackling some of the wider challenges that the UK faces.

This bill is a historic opportunity to strengthen the UK’s cyber resilience, but we risk falling short if we don’t listen to those on the frontline.

“We’re calling on DSIT to open up the conversation, coordinate across government, to provide a timeline and process for tackling the urgent issues that are deemed out of scope. By future-proofing regulations and giving parliament a clear role in oversight, we can make sure the UK remains secure and competitive in a rapidly changing digital world.”
Dan Aldridge MP, Chair of the APPG for Cyber Innovation

READ THE FULL REPORT HERE

Become a Full Member of the Cybersecurity Business Network

Connect. Collaborate. Shape the Future of Cybersecurity in the UK.

We’re excited to share that CBN’s refreshed Membership Programme is now live – and we’ve already welcomed several new companies into the network.

Our Full Membership offer is open to all UK-based organisations with a vested interest in cybersecurity and provides access to a growing community of like-minded businesses working to promote innovation, share insights, and shape the future of cyber in the UK.

For all those that have previously signed up to our network, we would ask you to fill out the registration form on our website via the link below to remain as full members of the association.

Full Membership
Fee: £750 + VAT per annum

Membership includes:

Complimentary tickets to all standard CBN events
Speaking opportunities at relevant events
Networking and engagement opportunities with peers from across the sector
Insights and education on upcoming policy, trade, and industry developments
Invitations to quarterly member calls featuring key stakeholder special guests
Opportunities to share relevant thought leadership through CBN’s digital channels, with editorial feedback from the CBN Secretariat to finalise articles
Engagement with external stakeholders, including other verticals and the investment community
Logo featured in the membership directory

We’re looking forward to bringing more organisations into the community and continuing to support the growth of the UK’s cyber ecosystem.

For any queries, please contact: secretariat@cb-network.org

Policymakers join forces through an All-Party Parliamentary Group to propel the UK’s Cyber innovation

Aims to bridge the gap between policymakers and industry, stimulate collaboration across sectors

The Cybersecurity Business Network (CBN), a UK coalition of cybersecurity organisations looking to support and promote the cyber sector, announces its role as the Secretariat for the newly launched Cyber Innovation All-Party Parliamentary Group (APPG). The APPG will aim to break down complex cyber issues for policymakers, bringing together parliamentarians, industry leaders, academia and civil society to spark fresh ideas and drive innovation.

The APPG is chaired by Dan Aldridge MP, with officers from all three major political parties: Liberal Democrat MP Max Wilkinson, Labour MP Sarah Edwards, and Conservative MP John Glen. Aldridge said, “The UK’s global cyber leadership position needs Parliamentarians to intentionally and meaningfully take an interest in its future, and we will do just that. This will be a different type of APPG – we will engage with the UK’s highly innovative cyber sector and look at how we as a Parliamentary community can support and grow the cyber ecosystem in the national interest.”

As the Secretariat, CBN will support the Group through an active events programme, and provide insights for Parliamentary members in order to foster a productive dialogue with industry and third-sector stakeholders around topics such as supporting the UK cyber ecosystem to grow, and ensuring Parliament and experts work together to make upcoming cyber legislation fit for an increasingly digital world.

Andrew Kernahan, Strategic Advisor at CBN said, “We are excited to serve as the Secretariat for the Cyber Innovation APPG, which will play a vital role in bringing together diverse perspectives from across the cyber ecosystem with Parliamentarians and policymakers. We believe the APPG will champion the UK’s thriving cyber ecosystem and its critical role in enabling modern society and driving economic growth.”

About Cybersecurity Business Network

Rebranded in 2024, Cybersecurity Business Network aims to bridge the gap between government initiatives and private sector innovation. CBN provides a collective voice for our members, enabling them to engage with key stakeholders, shape national government policy, network with peers across the sector and cultivate new trade opportunities. Its members represent a diverse range of companies which are invested in improving resilience, innovation and enabling economic growth.

For more information, please visit our website – https://cb-network.org/

For more information on the Cyber Innovation APPG, please visit the website – https://cb-network.org/appg-for-cyber-innovation/.

Media contact

For any media queries, please contact secretariat@cb-network.org.

CBN Newsletter | January 2025

Our monthly update to bring you the relevant, high-level policy and business news from across the cyber sector.

This month, we provide an update on two significant announcements from the UK government, an insights piece from out CBN comms lead, and our usual policy and business news.

If you have any questions about the content, or believe we should add to our coverage, please do not hesitate to get in touch.

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Headline News

Global Cybersecurity Outlook 2025
The World Economic Forum (WEF) has published its annual Global Cybersecurity Outlook report, which highlights the complexity of the cybersecurity landscape – intensified by geopolitical tensions and emerging technologies, interdependencies and cybercrime sophistication, governments, organisations and individuals are being challenged to adapt and innovate in order to ensure our continued security.

Please see below for a longer analysis.

Risk facing UK “widely underestimated”
The National Cyber Security Centre (NCSC) published its Annual Review 2024, drawing out key aspects and learnings from the agency’s work over the past year across four chapters – cyber threats; cyber resilience; the cyber market ecosystem; and future cyber technologies.

Notably, it highlights geopolitics and the continuing cyber threat of nation-state actors – particularly China and Russia – against the UK’s critical national infrastructure (CNI), a point which was emphasised further by CEO Richard Horne in his first major speech.

Launching the Review, Horne cautioned that cyber risks facing the nation from nation state actors are “widely underestimated”, and the UK is engaged in a “contest for cyberspace” with those seeking to use our “technology dependence” to disrupt daily life. The report indicated that there has been a sizable increase in the number of incidents handled by the organisation in the 12 months up to August 2024, with ransomware being the most pervasive threat.

UK: AI Opportunities Action Plan
The UK Government has published its “AI Opportunities Action Plan”, which lays out how it intends to employ artificial intelligence (AI) to boost economic growth and deliver more efficient public services, and is described as a “cornerstone” of the Government’s Plan for Change.

Identifying three overarching goals, the Plan is broken down into 50 recommendations which give further detail and approximate timelines for when each will be implemented. Overall, the Plan takes a bold approach to AI, with the “safety” and “guardrails” approach from previous Prime Minister Sunak seemingly left behind. Interestingly, cyber (security) does not feature heavily, instead only mentioned briefly in terms of increasing talent and skills, as well the potential for regulation to actually drive innovation, rather than hinder it.

If you have any questions about what these updates mean for the cyber sector or your business, or would like to engage with the Industrial Strategy consultation, please get in contact with us at secretariat@cb-network.org.

Enhancing communication between security and business leaders

Written by Marco Bresciani, Cyber Risk Enthusiast and CBN Board Member

How can cybersecurity professionals bridge the gap between technical risks and business priorities?

Communicating cybersecurity risks effectively to executives requires more than just technical knowledge – it needs data-driven, actionable insights.

Cyber risk quantification (CRQ) bridges this gap by offering an objective way to assess and communicate cyber exposure, enabling better decision-making and risk prioritisation. Frameworks like Open FAIR framework provide structured approaches, but challenges such as complexity, manual processes and static data have hindered adoption.

Early adopters show that success comes from aligning CRQ with business needs, leveraging available data and automating processes for efficiency. CRQ is now maturing into a vital tool for informed cybersecurity investment and risk management, proving that innovation thrives where determination exists.

Read the full article from CBN Board Member Marco Bresciani, who delves into the evolving role of CRQ and its potential to revolutionise cybersecurity communication.

Image credit: Thinkstock

News Updates

Political and policy updates

CMA reform gains traction in the House of Lords
Lord Holmes of Richmond, supported by Lord Clement-Jones, tabled an amendment relating to the Computer Misuse Act (CMA) during the Lords Committee stage (day 4) debate of the Data (Use and Access) Bill.

The amendment would have afforded a legal defence for legitimate cybersecurity activities, serving to provide stronger legal protections for cybersecurity researchers and professionals engaged in threat intelligence research, updating in provisions made in 1990 by the CMA. As noted by Lord Arbuthnot of Edrom, these amendments come in the context of the long-standing CyberUp campaign. The Lords urged the Government that the update is necessary for the UK to avoid falling further behind advancements in emerging technology, such as AI.

The Minister, Baroness Jones of Whitchurch, acknowledged the importance of having the correct legal framework to protect legitimate cybersecurity activities, and that the Government is committed to ensuring the CMA is updated, with the issue being investigated by the Home Office, as well as the NCSC and law enforcement agencies.

The amendments were withdrawn.

Regional skills projects to bolster UK cyber defences
The Government has announced £1.9m new private and government funding for 30 projects, delivered by local organisations, which will be targeted at boosting the UK’s cyber resilience by plugging skills gaps.

First announced at a global cyber security meeting convened by the UK in September, these projects – delivered by organisations such as universities, local community groups and businesses – will tap into local “know-how” and partnerships to support initiatives which meet the needs of individual areas. The projects include programmes to upskill workers and improve diversity in the talent pipeline, ultimately serving to bolster the cyber workforce, drive growth, and improve economic and cyber security.

Reaction system activated to track undersea infrastructure threats
Following reported damage to an undersea cable in the Baltic Sea, the UK and allies have launched a new UK-led reaction system to track potential threats to undersea infrastructure and monitor the Russian shadow fleet via the Joint Expeditionary Force (JEF).

Second UK-EU Cyber Dialogue takes place in London
The second Cyber Dialogue between the EU and UK took place in London in December, during which representatives discussed respective approaches to cyber resilience; deterrence strategies; countering cybercrime; the Pall Mall Process; cyber skills; and cyber capacity building.

The next dialogue will take place in Brussels in 2025.

UK and Norway join forces to counter eavesdropping
The UK and Norwegian governments announced an agreement to collaborate more closely on research and development of technical security, to detect and expose eavesdropping devices.

Under this agreement, the two nations aim to bolster their collective resilience against threats from hostile states.

NCSC updates

CyberFirst girls competition: the results of its 2024 CyberFirst Girls Competition saw this year the largest number of girls signing up since its inception. The contest is designed to encourage girls to explore the world of cyber and technology, helping to address the lack of diversity in the UK cyber workforce, where women currently make up just 17%.
Improving operational technology (OT) security: new guidance is designed to help critical infrastructure organisations secure their operational technology (OT) systems.
Cyber Incident Response scheme: the Cyber Incident Response (CIR) ‘Enhanced Level’ (formerly Level 1) scheme standard has been updated, including new prerequisites and qualification requirements. The scheme is preparing to begin accepting new applications in the new year.

Business and industry

Notably, the report marks a stark disparity between large and small organisations in terms of security capabilities – a trend which is reflected between the global north against the global south, and private versus public sector.

Looking ahead to 2025, the report predicts that the world is entering an “unprecedented” era of complexity – with both national and international companies facing overlapping, increasing regulatory requirements and greater dependence upon potentially insecure supply chains.

It presents an “AI-cyber paradox”, threat actors employ new technologies to widen the threat to potentially disrupt human safety, as cyber defenders race to employ the same technologies to strengthen barriers against such attacks. Future technologies such as quantum computing offer “unprecedented” opportunities to accelerate security – and risk.

The report concludes by highlighting that it is crucial for leaders to understand the cumulative impacts of this complexity on both organisational and national cybersecurity – and that the financial implications of a lack of cybersecurity measures should far outweigh the cost of implementing the measures.

Cyber in the headlines: state-affiliated threats dominate landscape
Against the backdrop of rising geopolitical tensions, reports highlighting the ever-increasing rate of cyberattacks – particularly from state-affiliated groups – have dominated sector headlines.

A report from Cyfirma focused on the sharp increase in frequency and severity of attacks from Russian-affiliated groups such as Sandworm and APT29 over the course of 2024, targeting key areas in the UK and NATO allies such as critical infrastructure, governmental and defence organisations, and supply chains.

At the same time, reports that Chinese state-affiliated Salt Typhoon hacker group carried out a series of high-profile attacks against US-based telecommunications companies has highlighted the possibility of similar attacks against UK equivalents.

The NCC Group’s analysis of cyber threats in the UK highlighted a rise in ransomware attacks which featured a “blurring of lines between criminal and state-sponsored activity”, making way for more “sophisticated” attacks from a range of actors. Over three-quarters of attacks affected organisations in Europe and North America, particularly against “industrials” sectors, with Akira acting as the most active threat and new ransomware strain Ymir emerging as a dominant player.

News of rising threats – or indeed from state-affiliated actors – may be nothing new, but recent reports taken together have indicated a refreshed awareness which we can expect to continue throughout this year; this is reflected by the NCSC’s Annual Review, and by the WEF’s Cybersecurity Outlook.

Industry Event |GovTech Show and Exhibition 2025: Public Sector Innovation and Transformation

The Royal Society of Medicine, London
19th March 2025, 9am – 5pm

CBN is delighted to offer our members an exclusive opportunity to join the Institute of Government & Public Policy for their upcoming GovTech and Exhibitor 2025 event.

In collaboration with Socitm, the Society for Innovation, Technology and Modernisation, the event will to reimagine how the public sector operates and serves citizens. It will tackle the barriers and challenges of transforming public services to meet demand head-on, and attendees will walk away with actionable insights on harnessing efficient, secure, and sustainable technology to deliver cost-effective, citizen-centric services.

Join IGPP in central London for an immersive journey where public sector professionals, policymakers, and the brightest minds in industry converge to explore the technological possibilities shaping the future of the UK public sector.

CBN is able to offer 20 exclusive free places to our members. If you are interested, register your place with sign up code: CLARITY100.

About CBN

Our new mission is to bring together cybersecurity companies to network, learn and debate across three key pillars — trade and export, policy, and market insights. Our members will be enabled to promote their cybersecurity expertise and capabilities, strategically engage with key stakeholders and develop lasting relationships in key verticals, in a wider effort to influence government policy and promote innovation in the sector.

The strategic direction of CBN is shaped by our Membership who benefit from increased brand exposure and engagement opportunities with key stakeholders in the cyber space, other key sector verticals, media, government and regulators.

Founded by Clarity

Enhancing communication between security and business leaders

Author: Marco Bresciani, Cyber Risk Enthusiast – CBN Board Member

Security leaders experience a continual trade-off between what they want to achieve and the resources that the organisation is willing to give them, be it funding, tools, suppliers, or people. At the same time, their executives need to quantify the financial loss that the organisation will incur if that specific risk happens.

This is not trivial: Gartner at the London 2024 event pointed out the need to “mind the gap” when reporting cybersecurity to management, providing different stakeholders with information they can act upon.

As someone who has worked in the cybersecurity industry since 1996, I have worked with banks and other regulated industries across EMEA, and realised many leaders avoid risk quantification due to misconceptions about data needs and complexity.

In this article I will highlight why cyber risk quantification (CRQ) serves as a vital purpose for security leaders, fostering better discussions with executives. Also, I will explain how organisations can achieve significant improvements in decision-making and risk prioritisation by debunking the myths on data complexity.

It’s not quantify vs qualify

CRQ has been the trusted method for actively communicating cyber exposure in an objective, well-grounded, and defensible manner for several years. It can be delivered in different ways. Most CRQ frameworks are based on the Value-at-Risk approach, developed in the Finance industry to measure the potential loss of investment portfolios.

A popular choice is the Open FAIR framework, an international, non-proprietary standard whose open nature and wealth of supporting documents helped increase its adoption by practitioners and consultants.

It’s important to remark that CRQ is not a replacement for a company’s risk management framework. The identification, analysis, evaluation, and treatment of risks are conducted as usual.

CRQ complements the qualitative output of common frameworks like COBIT or risk controls like ISO27000, by providing the “so what”, a means to compare losses deriving from risk scenarios, and the costs/benefits of mitigating actions.

The lessons learned from early adopters

Many organisations have tested CRQ in the past 5-8 years, often obtaining mixed results that made them question if introducing it in their risk management process was worth the effort. However, executives agree that when done right CRQ can foster confidence in security programs, by enabling informed decisions on cyber risk investments.

The initial stage of CRQ adoption highlighted some practical and some inherent problems:

Too complex: CRQ may generate an analysis overload that doesn’t address business questions. It takes robust experience to avoid falling into a rabbit hole.
Too manual: Stakeholders and subject matter experts are necessary to collect data and to interpret the results. Repeating the analysis implies re-engaging again with this cohort.
Too static: Changes to risk exposure should be measured in near real-time, based upon live data. Integrating CRQ tools with monitoring feeds and asset data can be a big task itself.

Operationalising CRQ, even with a rigorous, well-structured, well-documented framework like FAIR, can be a real challenge.

How could we keep a CRQ initiative on the right path? The experience of early adopters suggest the following:

Identify the use case that brings more value: for example, prioritising security initiatives and allocating budget, or choosing the correct cyber insurance coverage for your risk acceptance.
Connect CRQ with business questions: does the extra effort solve a business problem? Else it’s just an intellectual pastime that doesn’t help risk owners in taking the right action.
Use available data: inform risk scenarios with data from system telemetry and monitoring of third parties risk profiles.
Automate CRQ where possible: to be a repeatable step that hits the window CRQ needs to be automated with a tool. The CRQ market, like the whole of cybersecurity, is experiencing disruption through automation and AI.

Conclusion

After the initial enthusiasm about a fresh new method and the sobering experience of delivering it, CRQ is maturing into a solid foundation to inform executive decisions about cyber risk.

More in general, CRQ is becoming an element of a broader data-driven approach to cyber risk management, where risk exposure is measured in quasi real-time, from within the organisation, across the third parties, and from the external threats.

Does it look too difficult? Remember that Lloyds made the first aviation insurance in 1911, when the “flying machine” industry was just 8 years old. Not much historical data was available to inform the decision, and possibly not many success stories too… Where there’s a will, there’s a way!

CBN Newsletter | December 2024

Our monthly update to bring you the relevant, high-level policy and business news from across the cyber sector.

This month, we provide an update on two significant announcements from the UK government, an insights piece from out CBN comms lead, and our usual policy and business news.

If you have any questions about the content, or believe we should add to our coverage, please do not hesitate to get in touch.

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Headline News

UK hosts NATO Cyber Defence Conference
On 25th November, the UK’s Chancellor of the Duchy of Lancaster, Pat McFadden, addressed the second ever NATO Cyber Defence Conference at Lancaster House to highlight the threat of Russian aggression in cyberspace and announce the launch of a new security research lab.

McFadden said NATO members need to work together to strengthen their collective cybersecurity, and must “not underestimate” the threat Moscow – and other adversaries including Iran, North Korea, and China – poses in a “hidden war”, consistently targeting critical national infrastructure. He highlighted that, after 75 years, Western allies “need NATO more than ever”.

Further, the Chancellor, who oversees all national security and resilience for the UK, unveiled a new Laboratory for AI Security Research (LASR), in recognition that AI is “revolutionising” national security. The Lab, which has been set up in partnership between the UK Government, academia and the private sector, will also seek collaboration with allies including NATO and Five Eyes nations to help create better defence tools and organise intelligence.

Separately, NCSC CEO Richard Horne is expected to make is first major speech today (3rd December 2024) since starting the role in October to highlight that hostile activity in UK cyberspace has increased in “frequency, sophistication and intensity” from nation-state actors, including Russia and China, who want to cause maximum disruption. His speech also launches the NCSC’s eighth Annual Review, released today.

Chancellor calls out fraud in Mansion House speech
Rachel Reeves delivered her first Mansion House speech as Chancellor of the Exchequer on 14th November to unveil a strategy for driving economic growth, boosting private investment, and reforming financial services. Overall, her speech was centred on public investment, addressing domestic challenges, and enhancing the UK’s role in finance.

Notably, she also called on technology and telecommunications companies to go further in addressing fraud, alongside law enforcement and coordinated efforts across sectors, ahead of the upcoming fraud strategy expected in spring 2025.

The other frontline: UK Government recognition of cyber threats

Shortly after the Labour party came to power, the new Secretary of State for Science, Innovation and Technology Peter Kyle warned that Britain is “desperately exposed” to cyber threats and pushed for the new Cyber Security and Resilience (CSR) Bill to replace a previously expected AI Bill, in order to prioritise national security amid warnings from the NCSC of rising attacks on critical national infrastructure (CNI) organisations.

Fast forward a few months down the line and NCSC Head Richard Horne has cautioned that cyber risks facing the nation, particularly from nation-state actors including Russia and China, are “widely underestimated”. He went on to say that the UK “must improve” the defence and resilience of CNI, supply chains, the public sector and the wider economy.

Horne’s speech follows the message from Pat McFadden, Chancellor of the Duchy of Lancaster who, last week, highlighted the importance of international cooperation on cybersecurity at the NATO Cyber Defence Conference, and announced the launch of a new Laboratory for AI Security Research (LASR). In his speech, McFadden noted that the war in Ukraine “is also raging on another frontline, in cyberspace.”

Taken alongside the recent designation of data centres as CNI and a potential commitment to reform the Computer Misuse Act (CMA) it would seem that the UK government has a high regard for and strong focus on cyber – however, this recognition is clearly not enough, as recent high-profile attacks on NHS hospitals and Transport for London (TfL) publicly highlight the fragility of our networks, and reports on the vulnerability of SMEs crop up frequently.

As noted by the Times, there is “only so much the government can do”, particularly given the vulnerability of supply chains, yet it still bears the primary responsibility for our national security.

So outside of legislation, what is the role of government in shoring up the defences of UK businesses? How could it better capitalise on the potential of the British cyber ecosystem – is innovation and investment really prioritised, and is the procurement process fit for purpose?

CBN plans to look at these questions – and more – in 2025. We always welcome input from our members, so please get in touch with any thoughts!

If you have questions about how you can better communicate your services, ongoing media trend analysis or wish to engage with government affairs, please get in touch with the CBN team.

News updates

Policy and political

4th Republic of Korea-UK Cyber Dialogue held in London
The UK hosted the fourth Cyber Dialogue with the Republic of Korea, during which the two countries discussed a wide range of issues including threat deterrence strategies, private sector collaboration, cyber skills, and international cooperation.

NCSC updates

Cyber Security Toolkit for Boards: the NCSC has updated its Cyber Security Toolkit for Boards, now including a case study on the British Library’s ransomware attack that offers critical insights into cybersecurity vulnerabilities. The case study emphasises that senior management should be equipped with “cyber-risk awareness and expertise” to make informed strategic decisions that impact investment outcomes.
UK and allies warn of rising zero-day attacks: the NCSC and international partners in Australia, Canada, New Zealand and the United States have reported a surge in cyber attackers exploiting zero-day vulnerabilities, with most of the top 15 vulnerabilities in 2023 targeted before fixes were available. Organisations are urged to apply patches promptly, manage vulnerabilities effectively, and adopt secure-by-design principles to reduce risks.
Banishing malicious adverts: new guidance on digital advertising is designed to support businesses in choosing a “security-forward” partner, in order to increase public and commercial trust of the sector and allow businesses to protect revenue and reputation when advertising online.
Black Friday cyber fraud warning: UK cyber and law enforcement agencies have launched a 2-step verification campaign as they urged shoppers to protect themselves against online scams.

Business and industry

New UKRI-funded network to bolster UK’s cyber security research ecosystem
The Cyber Security Research and Networking Environment (CRANE) NetworkPlus, established by Oxford University’s Computer Science Department, has been awarded a £6 million investment from the UKRI Engineering and Physical Sciences Research Council (EPSRC).

Launching in 2025, the initiative aims to drive better cyber security across the economy and make businesses, charities, communities, and people more resilient against cyber threats.

UK retailers exposed to email fraud ahead of Black Friday
New research from cyber company Proofpoint reveals that 40% of top UK online retailers are not fully protecting customers from email fraud, leaving them vulnerable during the pre-festive shopping period.

The study found that only 60% of retailers have implemented Domain-based Message Authentication, Reporting and Conformance (DMARC) protection – an email authentication protocol designed to block fraudulent emails. While this is a slight improvement from 2023, many retailers still lack adequate security.

Amid holiday sales, the report urges consumers to use multi-factor authentication, avoid suspicious websites and verify deals to stay safe from phishing and fraud.

This report is based only on data collected by Proofpoint.

About CBN

Founded by Clarity

CBN Newsletter | November 2024

Our monthly update to bring you the relevant, high-level policy and business news from across the cyber sector.

This month, we provide an update on two significant announcements from the UK government, an insights piece from out CBN comms lead, and our usual policy and business news.

If you have any questions about the content, or believe we should add to our coverage, please do not hesitate to get in touch.

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Headline News

UK political update: the Budget and a “modern” Industrial Strategy
On Wednesday, 30th October, Chancellor Rachel Reeves presented the new Labour Government’s first annual Budget. With a reportedly dismal economic outlook yet a manifesto promise to bring growth, the Chancellor changed borrowing rules and increased the overall tax burden on the country by £40bn in order to increase investment in key sectors and public services.

Skirting around controversy of whether Labour broke its election manifesto commitment, the Chancellor continued the Government’s messaging of boosting growth and productivity and utilising innovative tech – especially in health, energy, defence and digital.

Notably, the Strategic Defence Review (SDR) was mentioned, in which the Government is considering cyber and digital “as a next step” as they develop their plans in this area. Other than defence, cyber was only mentioned in terms of improving the security of the NHS.

Ahead of the Budget, the Government had launched its “modern” Industrial Strategy and associated consultation, aiming to streamline funding into eight key sectors – manufacturing; clean energy; creative industries; defence; digital and technologies; financial services; life sciences; and professional and business service – in an aim to address challenges via a “cross-cutting” and “pro-business” approach.

While cyber is not mentioned in the Industrial Strategy, the consultation nonetheless plans to “focus on a range of technologies and their commercialisation, with a portfolio approach that backs smaller, less proven, and more disruptive businesses alongside larger, well-established businesses in existing sectors” under the context of investing in digital technologies, which presents a key opportunity for the sector to engage and raise its profile within government.

If you have any questions about what these updates mean for the cyber sector or your business, please get in contact with us at secretariat@cb-network.org.

Enhancing supply chain cybersecurity: positive storytelling and clear communication

Recent disruptions caused by global IT outages have shed light on how a lack of IT supply chain diversification fundamentally undermines resilience by concentrating risk. Over the last few months, many organisations have been considering the makeup of their supply chains, and the strength of their incident management and response plans, accordingly.

In a key insights article, CBN Communications Lead, Liva Emmatty, outlines the communication challenges faced by cybersecurity leaders and organisations in this context, and the value that powerful storytelling and clear communications can bring to cyber firms looking to boost reputations when trust is low.

If you have questions about how you can better communicate your services to customers or wish to speak to government about future solutions, please get in touch with the CBN team.

Read the article here

Political and policy updates

Building partnerships to protect the UK from cyber crime
In a speech to the PREDICT 2024 Conference, Home Office Security Minister Dan Jarvis said that “cyber security is national security” and highlighted how national security is the “foundation” for the Government to achieve its five missions.

He went on to say that the Government is considering reviewing the Computer Misuse Act (CMA), and in light of the spending review are reviewing several policy areas to enable and enhance security.

Five Eyes launch shared security advice campaign for tech startups
Cybersecurity guidance designed for technology companies, Secure Innovation, has been launched across Five Eyes nations, in an effort to protect the sector from national security threats, particularly originating from other nation states.

Originally a UK-only initiative from the National Cyber Security Centre (a part of GCHQ) and National Protective Security Authority (NPSA), tailored guidance is now available in Australia, Canada, New Zealand, the UK and the US.

The guidance helps companies to create a cost-effective, bespoke action plan which supports them to assess their levels of secure innovation and identify any necessary actions they need to take to protect their business.

G7 Cyber Expert Group recommends action to combat cyber risks from quantum
The G7 Cyber Expert Group (CEG) – chaired by the U.S. Department of the Treasury and the Bank of England – has recommended organisations have regard for the initial set of quantum-resilient encryption standards was released by the National Institute of Standards and Technology (NIST) and work to build resilience, particularly for sectors which hold highly sensitive information, such as the financial sector.

Cyber Essentials 10 years on
In a speech at the 10 year anniversary event for the Cyber Essentials scheme, DSIT’s Cyber Minister Feryal Clark highlighted the impact of Cyber Essentials for UK businesses, which are detailed in a new impact evaluation.

Further, she announced a new joint statement from DSIT, the NCSC, and the UK’s largest banks and building societies which aims to raise the levels of cyber security in critical national supply chains by exploring ways to expand the role of Cyber Essentials within their supplier assurance processes.

NCSC updates

NCSC urges global cyber collaboration: At the Singapore International Cyber Week, Dr. Richard Horne, CEO of NCSC, urged international cooperation to increase global resilience against escalating cyber threats.
UK and US issue cyber alert for Russian intelligence: A joint advisory from UK and US cybersecurity agencies warns that a campaign orchestrated by Russian Foreign Intelligence Service (SVR) actors is targeting critical government and national infrastructure and exploiting vulnerabilities in other organisations with poor cyber protections. It goes on to urge all organisations to apply patches and updates, and report any suspected breaches.
Team of British women to participate in international cyber event: A team of CyberFirst Bursary alumni will represent the UK at the inaugural Kunoichi Cyber Games in Tokyo this November. The event, part of the Code Blue cyber security conference, aims to inspire more women to pursue cyber careers.
Cyber defence for schools: UK schools are encouraged to sign up for a free cyber defence service from the NCSC, called PDNS for Schools, which blocks online threats like malware and phishing attacks.

Business and industry

Businesses struggle to manage supply chain cyber risk
Businesses are facing a growing challenge in managing supply chain cyber risks, according to a new report from cyber defence company Blue Voyant, in their fifth annual State of Supply Chain Defense report.

Despite 95% experiencing incidents in the last year, over half don’t regularly assess vendors for cybersecurity issues, and a third have no way of knowing when an incident occurs. This largely stems from a lack of resources and expertise, even though budgets for third-party cyber-risk management have increased.

Further, prioritisation of third-party cybersecurity risk management has decreased; key challenges include understanding how to penalise non-compliant vendors, meeting regulatory requirements, and ensuring compliance. On the other hand, UK businesses are more proactive than their global counterparts in briefing senior management on these risks, indicating an awareness of the issue at the highest levels.

If you want to learn more about supply chain cybersecurity resilience, check out CBN’s recent webinar for more insights from cyber leaders.

Bridging the gaps to cyber resilience
Significant gaps exist between perceptions of cyber resilience among top security executives and C-suite leadership, according to the 2025 Global Digital Trust Insights report from PwC.

Based on a survey of more than 4,000 business and technology executives across 77 countries, over two-thirds of technology leaders see cybersecurity as their top risk for mitigation – compared with less than half of business leaders. Despite this, CISOs are less likely to be involved in strategic planning, leading to a gap between CISOs and top C-suite executives over the company’s ability to comply with regulations, particularly those involving AI and critical infrastructure.

The report goes on to recommend that, in order to better communicate the need for cyber resilience, CISOs “share tech-enabled insights” and explain cyber priorities in business terms (cost, opportunity, risk).

Global threat report indicates increase in CNI cyberattacks
Cyber attacks on key critical national infrastructure (CNI) and supply chains continue to increase across the globe, according to data in Blackberry’s Q2 Global Threat Intelligence report.

Notably, the period of April – June 2024 was “one of the highest” quarterly percentage increases in unique malware samples per day since their reporting began. The United States received the highest number of attempted attacks, followed by Japan, South Korea, Australia and Canada.The report does not go into detail on why these countries have received the most attacks, and although mentioning that the attacks came from both state and non-state actors, did not clarify further.

While organisations are implementing measures like data encryption, fewer than half verify their suppliers’ cybersecurity compliance. The report stresses the urgent need for improved visibility and monitoring of software supply chains to reduce vulnerabilities.

To note, this report is based only on data collected by Blackberry in its internal systems.

About CBN

Founded by Clarity

Key insights from the Supply Chain Resilience Webinar

The Cybersecurity Business Network (CBN) was delighted to host a webinar on supply chain resilience. Developed in response to the recent global IT outage, which exposed how reliance on only a few key suppliers can weaken critical systems, the webinar explored how businesses and policymakers can address the growing issue of how a lack of diversification in IT supply chains can increase the risk of major outages. The webinar brought together experts from cybersecurity, healthcare and academia to discuss ways to strengthen supply chain resilience and manage these risks. Below are some key takeaways from the event.

Dr. Melanie Garson, Cyber and Tech Geopolitics Lead at the Tony Blair Institute, opened the discussion by examining the global geopolitical landscape’s impact on supply chains. She emphasised the rising uncertainty and the interconnectedness of these risks, describing the current state as “a geopolitical state of upheaval.” According to Garson, the world’s IT supply chains are more vulnerable than ever due to increased global tensions and organisations must better anticipate the disruptions arising from cyberattacks and broader geopolitical events.

Simon Newman, Director of the Cyber Resilience Centre for London, reinforced this perspective by highlighting how attackers are now focusing on smaller, more vulnerable entities in supply chains. Newman also stressed the importance of enhanced collaboration across sectors, including law enforcement, to address these increasing vulnerabilities.

“As larger organisations have boosted their cybersecurity significantly, criminals are now targeting weaker entry points”, he explained, noting that smaller organisations often lack the resources to defend themselves effectively.
Simon Newman, Director of the Cyber Resilience Centre for London,

The healthcare sector’s supply chain vulnerabilities were a particular focus, with Rachel Dean, Head of Cybersecurity at NHS Supply Chain, providing insights. Dean emphasised that a successful cyberattack on the NHS’s supply chain could directly affect patient care.

“A successful cyberattack and the resulting inability to deliver operations impacts directly on the NHS’s ability to deliver patient care, which can have critical outcomes,” she warned.
Rachel Dean, Head of Cybersecurity at NHS Supply Chain

With a supply chain of over 6,000 suppliers, Dean explained the significant challenges in ensuring that each supplier meets necessary cybersecurity standards while avoiding creating barriers for smaller, critical suppliers.

On the regulatory side, Tim Rawlins, Director and Senior Advisor at NCC Group, discussed how regulations are evolving to address supply chain vulnerabilities.

“Regulators are increasingly focusing on requiring organisations to escrow software from their suppliers to reduce risk.”
Tim Rawlins, Director and Senior Advisor at NCC Group

While regulation is a key driver of improvement, Rawlins stressed that organisations themselves must take proactive steps to manage third-party risks and understand how disruptions in one part of the supply chain can have wide-reaching consequences.