New global guidance has been launched to help protect businesses from costly cyber-attacks. It sets out practical measures organisations can take to strengthen supplier security, aiming to minimise disruption and protect sensitive data by closing the gaps cyber criminals often exploit between suppliers and clients.
The UK and Singapore jointly developed the guidance during a global summit of the Counter Ransomware Initiative (CRI). It has since been endorsed by 67 CRI members, giving it strong international backing and helping to drive global adoption.
What is Ransomware?
Ransomware is a type of malicious software used by cyber criminals to encrypt or steal data. When data becomes inaccessible, businesses can lose critical functionality and risk damaging their reputation with customers. Criminals exploit this pressure by demanding payment in exchange for restoring access to the compromised information.
Why does the new guidance matter?
Ransomware attacks are increasingly targeting supply chains, causing widespread disruption and financial loss.
Recent incidents, such as the Synnovis attack on NHS suppliers, highlight the urgency of stronger cybersecurity measures.
Security Minister Dan Jarvis urges businesses to prioritise cyber security: “Cybersecurity must be a top priority for all businesses. It’s vital that the counter ransomware guidance is followed and strong measures are taken to defend against these destructive attacks.”
The new guidance aims to reduce the likelihood of a ransomware incident having a critical impact on an organisation by:
- Educating organisations on ransomware risks throughout their supply chains
- Promoting strong cyber hygiene practices to protect supply chains
- Incorporating supply chain vulnerabilities into risk assessments and decision-making, including procurement
For manufacturers and logistics firms in Greater Lincolnshire, this guidance is critical to maintaining operations.
Also announced alongside this guidance are new plans to ban public sector bodies from paying ransomware demands. This will stop the cycle of funding the cyber criminals, making public sector organisations a less attractive target. However, this could see an increased risk of ransomware attacks targeting businesses outside of the public sector.
We encourage businesses across Greater Lincolnshire to read the new guidance and take steps to build resilience into their supply chains. The guidance can be accessed here: https://www.gov.uk/government/publications/supply-chain-resilience-against-ransomware
Local businesses can also access fully funded support to protect against cyber threats through our Cyber Security resources page. This includes training, action plans, guides, and specialist advice from Cyber Advisors. More information is available here: https://www.businesslincolnshire.com/support-for-sectors/digital-sector/cyber-security/