How can UK Financial Services Organisations Combat the Cyber Threat?
Guest article by Genevra Champion, Sector Marketing Manager at IT Governance The financial services industry is naturally a lucrative target for cyber criminals. Financial organisations trade and control vast amounts of money, as well as collect and store customers’ personal information so clearly, a data breach could be disastrous for an industry that is built on trust with its customers. The financial services industry is second only to retail in terms of the industries most affected by cyber crime – the number of breaches reported by UK financial services firms to the FCA increased 480 per cent in 2018, compared to the previous year. While financial services organisations are heavily regulated and cybersecurity is becoming more of a business priority, there is still much more to be accomplished when it comes to businesses understanding what measures must be taken – from the C-suite down – to effectively protect organisations against inevitable breaches. So how can fina...