The UK financial sector is struggling to master basic cybersecurity and lacks the skills required to address the problem, a review from Nausicaa Delfas has warned. the Financial Conduct Authority, the FCA's acting COO who previously led its approach to IT and cyber resilience, said that the re-emergence of ransomware and the development of innovative and dangerous criminal networks have been particular features of the past 12 months. Although tools to manage vulnerabilities are well established, many organisations either don't use them or use them ineffectively, she added. The FCA advised that organisations share information about cyber threats and better educate employees.
The UK financial sector is struggling to master basic cybersecurity and lacks the skills required to address the problem, a review from the Financial Conduct Authority has warned. Nausicaa Delfas, the FCA's acting COO who previously led its approach to IT and cyber resilience, said that the re-emergence of ransomware and the development of innovative and dangerous criminal networks have been particular features of the past 12 months. Although tools to manage vulnerabilities are well established, many organisations either don't use them or use them ineffectively, she added. The FCA advised that organisations share information about cyber threats and better educate employees.