Caxton Founder and CEO, Rupert Lee-Brown was quoted recently in the FT.
The article discusses the increasing threat of cyber attacks on critical infrastructure in the UK, citing examples such as the recent attack on Swedish chain Coop and the ransomware attack on health software and services provider Advanced.
Cabinet Office minister Oliver Dowden has issued a warning about the rising cyber attacks by Russia-affiliated groups and called on businesses to prioritise cyber resilience. However, many businesses are ignoring the risks or lack the understanding of the threat. A government survey revealed that despite increasing cyber attacks, the number of companies implementing basic cyber defenses has fallen over the past two years.
Cyber hygiene measures, such as password policies, network firewalls, and regular software updates, can prevent up to 90% of incidents according to the National Cyber Security Centre.
The article suggests that a universal level of cyber protection mandated by regulation may be necessary, as market-based approaches and voluntary measures have not been effective. Some experts advocate for tougher measures for big businesses, such as allocating clear responsibility for maintaining basic cyber measures and making them a minimum requirement for corporate defenses.
The article concludes with a quote from Rupert at a recent event: “What I see around me is an extraordinary lack of understanding by chief executives and boards as to exactly what these threats are,” Rupert Lee-Browne, boss of payments company Caxton, told a FT event last year*
The important message for readers is the need for businesses to prioritize cyber resilience and implement basic cyber defenses to protect critical infrastructure from cyber attacks.
At Caxton cybersecurity starts with our Culture and it starts from the top.
If you have access to the FT you can read the original article here
Was this article useful? Try:
If you're interested in Caxton's CEO, Rupert Lee Browne, and want to read more of his articles or insights into the world of payments or cybersecurity then check out his speaker page.
Caxton Payments is an alternative to traditional banks, established over 20 years, we help businesses make faster payments more reliably. We offer streamlined processes, automation through API and a collaborative solution to complex payment issues all from a single platform. Our payment capability extends from business expense management, to payroll payments, supplier payments, and currency risk management. We also offer personal prepaid travel cards and international money transfer.
.png?width=1080&height=1080&name=Landscape_Open_Red%20%26%20Text%20(9).png)
