Security experts have welcomed confirmation of the government’s plans to build a new “world-leading” court specializing in cybercrime in London.
The new flagship 18-courtroom legal hub is being built on the site of Fleetbank House in the City, in partnership with the City of London Corporation and the judiciary.
The hope is that the new complex, which will also tackle fraud, and economic crime, will confirm London’s position as a global leader in finance and law when it opens in 2025.
The government claimed that English law is used in 40% of all global corporate arbitrations, and that over 200 international law firms have offices in the UK, helping to generate revenue worth £31.5bn two years ago.
“The flag of English law is flown in countries across the globe, and London already leads the way as the best place to do business and resolve disputes,” claimed lord chancellor, David Gauke.
“This state-of-the-art court is a further message to the world that Britain both prizes business and stands ready to deal with the changing nature of 21st-century crime.”
Dan Pitman, senior solutions architect at Alert Logic, argued the move was a positive one.
“Cybercrime suffers from being perceptually segregated from traditional crime from the viewpoint of the public, and victims often don't even contact legal and law enforcement organizations when affected,” he added.
“Specifically calling out Fleetbank House’s new role in that space will drive home the fact that cybercrime is just that — crime."
Sarah Armstrong-Smith, head of continuity & resilience at Fujitsu UK & Ireland, claimed the new plans show the government is taking the cyber-threat seriously.
“Organizations and the government have an obligation to collaborate to make cybersecurity as much of a priority as the public, who are regularly asked to hand over financial and other personal data,” she added. “After all, cybercrime is not a probability, it is an inevitability, and it will be the way in which the UK prepares for it that can make all the difference.”