FOI reveals increase in cyber breach incidents reported to FCA by brokers

cyber crime

A Freedom of Information request by Insurance Age has revealed that the number of cyber breach incidents reported to the Financial Conduct Authority has increased for insurance intermediaries but dropped for regulated firms altogether.

The authority explained that it held records of material operational incidents reported directly by individual firms including any incidents that were a result of cyber-attacks.

The number of cyber breaches reported by insurance intermediaries rose from 12 in the financial year of 2020/21 to 15 in 2021/22.

Even though it was only a small increase it was the first in a couple of years with the 2019/20 figure also having been 12.

Despite the uptick the most recent result was still below the 22

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