Online retail sales totaled £43bn in 2015, indicating the scale of digital business that needs to be protected against cyber-crime or other forms of digital attack. While the National Crime Agency (NCA) has previously stated that ‘the true scale and cost of cyber-crime in the UK is unclear at present’, the Office for National Statistics has estimated there were 5.8 million incidents of fraud and computer misuse in England and Wales for the year ending March 2016.
Cyber security is a significant issue for the UK retail industry, with 94% of those responding to the 2015 BRC annual crime survey stating that the overall number of cyber breaches is either static or increasing. Means of online fraud and cyber-attack are extremely varied and, to help mitigate against these growing threats, the Government’s 2015 Spending Review announced that £1.9bn would be spent on enhancing UK cyber security capabilities.
We are seeking to influence the Government to:
- Recognise the retail industry as a industry of strategic importance in security terms
- Simplify the UK’s complex, often overlapping cyber security policy structures
- Develop a more coordinated approach to the management of major cyber security incidents
Our other recent work in this space has included:
- Formulating a formal industry response on the scope and structure of the UK’s new National Cyber Security Centre, planned for launch in October 2016, highlighting the need for the Government to provide additional support to the industry on cyber incident management
- Issuing a public response to the publication of the House of Commons’ Culture, Media and Sport Committee’s recent report into cyber security and the protection of personal data
- Providing members with the opportunity to provide feedback to the City of London Police on the effectiveness of the UK’s ‘Action Fraud’ national fraud reporting system