Software companies must be held liable for British economic security, say MPs

A lack of liability for software vendors is among the most pressing issues putting Britain’s economic and national security at risk, an influential committee of lawmakers warned on Monday.

The report by the Business and Trade Committee says economic threats facing the United Kingdom are “multiplying — and, in the years ahead, will grow exponentially” leading to “a huge increase in the private ownership of public risk.”

While calling on the government to take action to manage these threats more broadly, the committee identified three specific measures to address cybersecurity risks: “introducing liability for software developers, incentivising business investment in cyber resilience, and mandatory reporting following a malicious cyber incident.”

Read more at The Record