Cybersecurity | UK Regulatory Outlook February 2023

DCMS launches call for views on cyber security risks of software 

The Department for Digital, Culture, Media and Sport (DCMS) has launched a call for views on the cyber security risks of software used by businesses and organisations.

The DCMS is seeking views from organisations with an interest in software security and digital supply chains on how and where the government can share expertise and resources to address cyber risks from software and where the responsibilities should lie. 

The aim of the consultation is to help understand how to mitigate cyber security risks from software, ensuring that digital products and services used are secure by design and create a more resilient digital environment. 

The call for views closes at 11.45pm on Monday 1 May 2023.

G7 publishes documents for cyber security assessment in financial sector

The G7 Cyber Expert Group, which was established in 2015 to address the issue of cyber security in the financial sector for G7 countries, has developed a set of fundamental elements for the effective assessment of cyber security.

The "Fundamental Elements for Effective Assessment" serves as a tool to help guide and drive internal and external discussions on risk management decisions that are critical to cyber security. They can also be of use in regulatory examinations, self-assessments, and independent review by third parties.

OFSI issues new ransomware sanctions guidance 

Please see Sanctions and dual-use export control section.