Read more: Beazley beefs up cyber coverage for UK firms
“The difference between espionage and some of the more traditional cyber threats that we’re used to looking at is that when you are doing espionage, you don’t want people to know you’re doing it,” he said. “When you’re doing something to cause disruption, the goal is that disruption… So, this definitely was an awakening that there are threats out there that can be exploited to potentially impact a lot of organisations. The good news is that, so far, it looks like the actual number of organisations impacted was nowhere near what it could have been.”
Going forward, Bantick said, the incident will inevitably raise the profile of the impact cyber risks can have on national security, as well as financial resilience, because the target seemed to be more government-type entities. National cyber security is always at the top of the agenda, but now everyone is more focused on it.
“What I think people should focus on now is on what this means for the next six months,” he said. “This event happened, it was quite sophisticated, and it was done in such a…
