Due to the rapid development and advancement of technology, laws have had a hard time keeping up with modern practices and problems. Increasingly more industries have started to include some connection to the Internet of Things, thus providing more opportunities for hackers to attack. One such industry is the energy industry. Currently, the UK is in the process of developing laws to ensure a certain amount of security is implemented by energy companies. These laws will require that the energy companies put particular measures in place in order to protect sensitive personal data. One aspect of these laws is that the process for reporting a company’s compliance will be more involved, and require the company to show how they are meeting the requirements, not just say that they are. Consequences of not complying with these regulations will be in the form of fees based on either a flat rate or an amount based off of their global turnover depending on the size of the company.
While this does place more burden on the companies in terms of forcing them to invest in security properly, one aim of these laws is actually beneficial to them. These laws aim to increase public trust in industries using network connections. This past year, the UK has seen a great increase in attacks compared to previous years, which has taken a toll on the confidence the public has in online security. Therefore, this law hopes to help push companies to increase their protection and save them from attacks which will not only lead to stolen customer data but also to a drop in public confidence.