The Financial Conduct Authority (FCA) has seen a rise of 1087% in cyber incidents reported by financial services firms in 2018, compared to 2017 when there were 69 attacks.
This was revealed by RSM UK, upon recieving data following a freedom of information request.
Retail banks reported the highest number of incidents (486); wholesale financial markets reported 115; while general insurance and protection reported 49. This was roughly 6% of the total number of reported incidents.
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