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Finance industry revealed as the second least cyber-secure in the UK

Finance industry revealed as the second least cyber-secure in the UK

Financial services firms are an increasingly attractive target for cybercriminals. In 2022, according to  IFA Magazine, the finance industry had 305,785 new security breaches, the second highest level in the UK. While the sector is aware of its risks and prioritises security accordingly, preventing and detecting attacks are challenging due to evolving and sophisticated cybercrime techniques.

Maintaining stability is the cornerstone of ensuring economic security for the United Kingdom. Organisations such as banks, building societies, insurance companies, and other companies providing infrastructure for the financial market are essential components of this economic sector. The government, the Bank of England, and key organisations, such as the Financial Conduct Authority (FCA), work together to