Stephen Bonner, ICO deputy commissioner for regulatory supervision, noted, 'Unfortunately, we've seen cyber crime costing UK firms billions over the past years. That's why it's crucial that relevant bodies work together to boost the UK's cyber resilience.' This highlights the financial impact of cyber crime and the need for enhanced cooperation between agencies to strengthen the UK’s defenses.
The MoU outlines that the ICO and NCA will work together to ensure organizations engage in cyber crime incidents reporting. Bonner added, 'This new memorandum of understanding builds on our existing relationship with the NCA and aims to improve cybersecurity standards across the board, while respecting each other's remits.'
The two agencies are committed to sharing information about cyber incidents. Details will be shared on an anonymized basis, or specifically, to protect the public from serious crime, ensuring that confidentiality is respected within their collaboration.
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