The ODPA has today responded to the GFSC consultation on cyber security issues and vulnerabilities.
The consultation highlights the importance of understanding and responding to technology risks, including data privacy, for the regulated community. It also illustrates the need to take an organisation-wide approach covering software, system updates, staff training and policies, all of which are vital in ensuring preparedness and mitigating risk.
Where organisations suffer a cyber incident, they may need to notify both the GFSC and the ODPA and we are keen to ensure our local business community is supported in delivering on their obligations. It is our hope that our two regulatory offices can continue to work effectively together to ensure as much clarity and assistance is provided where these reporting requirements apply.
All organisations need to engage with this issue and consider it a priority and we welcome the opportunity to comment and highlight this critical area of all business activity.