Industry is ‘on the cusp of change’ in the fight against cyber fraud

ADS and The Intelligence Network collaborated once again last month in a round table designed to discuss and act on the issue of endemic attacks. Also in attendance were representatives from the Home Office, Cyber Tech Facilitation Services, NQC, Evidence Talks, Altran UK, Kahootz, TP Group, BAE Systems, and more. The group met to establish how we can tackle the problem of attacks on personal data, as part of the Network’s wider commitment to tackle cyber fraud. With collaboration making action possible, the group agreed that we are ‘on the cusp of change’.

The session started with a discussion about SMEs as part of the endemic attack supply chain, followed by a deep-dive into the role endemic attacks play in making cyber fraud possible. The group debated about how to build ‘secure by design’ models to help organisations become more resilient to attacks.

The roundtable unearthed several key barriers for organisations that want to be ‘secure by design’, including issues around usability, GDPR, the value of data, and law enforcement. The group agreed that we need to move towards a culture where security is as important to organisations, and their customers, as user experience. Potential mechanisms discussed include education about essential security best practice, and a demonstration of the long-term cost-benefits brought by investments in security.

As Luca Leone, from Kahootz, surmised: “If you go back to health and safety, the view of that has changed over the years. How do we get to the same state with cyber?”

Several next steps were agreed to progress research and also action change, with the group agreeing to continue to work together on an action plan to continue to explore and tackle the issue of cyber fraud. The plan will help the industry make the crucial changes necessary, to improve resilience against attacks, and ultimately make cyber fraud a harder crime to commit.

Following on from the roundtable event, and noting ideas and contributions put forward by ADS members in attendance, The Intelligence Network released a report of its vision to tackle the growing issue of cyber fraud. With its vision for change established, The Intelligence Network is now calling upon industry to join forces in the fight against cyber fraud by consulting on its proposed action plan, and taking responsibility to drive those actions forward. For further detail around this work and to read the full report, please see here.

This roundtable offered members unique business-to-business engagement with the network:

“We were very grateful to The Intelligence Network for opening its doors and having detailed discussions on cyber fraud with ADS member SMEs operating in the cyber security sector. The unique event helped to foster collaboration and deeper engagement across our sector, and ensure that innovative ADS member companies play a key role in the work of The Intelligence Network moving forward.” Michael Miller, ADS UK Market Manager – Security and Resilience Sector