UK spy agency GCHQ has admitted it is losing the cybersecurity battle on a national level, despite throwing money at the problem. Alex Dewedney, director of cybersecurity at CESG – the information security arm of GCHQ – warned that it will take a lot more than cash to bring cybersecurity threats under control. The UK Government splashed £950m on cybersecurity over the past five years and George Osborne has promised a further spend of £1.9bn in the coming five years. Combined with the money being spent on protecting IT systems, a total of £3.2bn is expected to be spent over the next half decade.
— source techweekeurope.co.uk | 2016