The Government must make the free market “work better” as it is failing to meet the needs to prevent cybercrime as the threat continues to grow, a statement which will be made by Robert Hannigan, director of GCHQ to business leaders in London later today.
Hannigan, who heads the agency which protects all Government networks, will issue the warning less than a fortnight after Talk Talk faced online hacking which led to customer’s data being leaked, where he will call for a review of cyber security, claiming that it is insufficient at this time.
“What is also clear is that we cannot as a country allow this situation to continue,” he will also say in a speech released early to the Financial Times.
“The global cyber security market is not developing as it needs to: demand is patchy and it is not yet generating supply. That much is clear. The normal drivers of change, from regulation and incentivisation through to insurance cover and legal liability, are still immature,” he will state.
Following last month’s attack, TalkTalk revealed that 160,000 of its customers were affected in the end.