The Cyber Monitoring Centre (CMC) has officially launched in the UK, aiming to tackle systemic cyber attacks effectively. This initiative, started by the law firm Weightmans and insurer CFC, will independently declare and classify significant cyber incidents on a scale from one to five, with one being the least serious and five being the most severe and disruptive. While it was initially focused on helping the insurance sector, the information will be accessible to all security risk managers.
CMC seeks to demystify complex cyber incidents and enhance the way organizations respond and prepare. As CMC CEO Will Mayes pointed out, the risk of major cyber events is higher than ever. Organizations in the UK depend heavily on technology, and understanding the potential impacts of cyber incidents is crucial for individuals and businesses alike.
When a massive incident occurs—defined by the CMC as having a financial impact exceeding £100 million and affecting multiple organizations—the Technical Committee, led by former National Cyber Security Centre chief, Ciaran Martin, will assess key elements against the CMC’s framework to classify the incident. They will consider factors like external polling data, observable technical indicators from various sources, and modeling based on past incidents.
The CMC aims to classify these events within 30 days, though this timeline could be adjusted. Each categorization will come with an event report, summarizing insights and analysis from the committee. Martin highlighted that until now, measuring the severity of cyber incidents has been challenging. He expressed confidence that the CMC will enhance our approach to handling, learning from, and recovering from these incidents, which could significantly bolster cybersecurity not just in the UK, but globally.
Mayes also emphasized the invaluable support received from leading experts who helped establish the CMC and continue to provide crucial data and insights during incidents. Their ongoing contributions will remain essential as the CMC develops its partnerships in the future.