Other sectors within financial services that saw large increases in data breach reports include: Insurers – 33 in 2018, up from seven in 2017 Consumer retail lending – 21 in 2018, up from four in 2017 Retail investments – 11 in 2018, up from none in 2017 The UK’s Financial Conduct Authority (FCA) saw a 480% rise in the number of data breach reports from financial services firms in 2018. Reported incidents for the year totalled 145, compared with 25 in 2017. A total of £1bn was lost to cyber attacks last year, according to figures released by accountancy firm PwC. While the figures indicate a rise in cyber attacks, enterprises may simply be improving how they recognise and report breaches.
The UK’s Financial Conduct Authority (FCA) saw a 480% rise in the number of data breach reports from financial services firms in 2018. Reported incidents for the year totalled 145, compared with 25 in 2017. A total of £1bn was lost to cyber attacks last year, according to figures released by accountancy firm PwC. While the figures indicate a rise in cyber attacks, enterprises may simply be improving how they recognise and report breaches.