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Cryptoassets and financial stability: BoE outlines key risks and approach.
In a new report published last week, the Financial Policy Committee (FPC) of the Bank of England began formalising its position on the risks to financial stability posed by the increasing size of the cryptoassets market. The FPC concludes that... Read more
Who will guard the 'gatekeepers': EU one step closer to regulating Big Tech.
The European Union's institutions came together at the midnight bell, on 25 March 2022 and reached provisional political agreement on the Digital Markets Act (DMA) that aims to strengthen the European Union's powers to regulate digital markets and... Read more
US-EU negotiators reach agreement on Privacy Shield reboot.
On 25 March, US President Joe Biden and European Commission President Ursula von der Leyen announced that, after a year of negotiations, the US and EU had reached an agreement in principle on a new Trans-Atlantic Data Privacy Framework (the... Read more
Ransomware attacks: Are you ready? New ICO guidance can help.
The ICO’s new ransomware guidance could not have come at a more pertinent time. This week Joe Biden, told US business leaders it was their “patriotic obligation” to strengthen their digital defences against Russian cyberattacks and last month... Read more
Buckling up the UK’s digital seat belts: Online Safety Bill covering ‘basic protections for the digital age’ introduced to Parliament.
The UK took a major step on Thursday towards establishing the world’s first online safety laws with the introduction of the Online Safety Bill to Parliament for formal legislative scrutiny. With it the Government hopes to bring in a “new digital... Read more
First ICO ransomware fine: what lessons can we learn?
Last week the ICO fined leading criminal solicitors Tuckers LLP £98,000 for breaches of its security, and other, obligations under the GDPR which came to light following a ransomware attack. The monetary penalty notice provides some useful lessons... Read more
Cyber risk in uncertain times: NCSC urges UK organisations to bolster online defences and follow its ‘heightened threat’ guidance.
On Monday, the world’s largest carmaker Toyota was forced to close all of its factories in Japan for a day due to a suspected targeted hack of one its key suppliers. Similar attacks have been made against a wave of Western companies including US... Read more