Cyber attacks increase for financial services industry

Advisers could see cost of cyber attack cover increase – Back in April the FCA warned financial services firms are often not getting the basics right on cyber security, leaving them vulnerable to attacks. The Financial Conduct Authority’s chief operating.

Table of Contents – –  · Background: With the increasing volume and sophistication of cyber attacks and a projected global shortfall of two million cybersecurity professionals by 2019, the financial services and supervisory community are struggling to find an efficient approach to cybersecurity risk

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Cybersecurity in financial services: PwC – Firms should balance being open with being secure. As attacks increase and regulators take closer notice, the pressure to act mounts.. US Financial Services Cybersecurity Leader. and insurance are helping our clients tackle the biggest issues facing the financial services industry.

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Cyber attacks increase for financial services industry | 2015. – In the third quarter of 2015, the DDoS (Distributed Denial of Service) trends report numbers were at the highest quarterly levels in the last two years, with the financial and payments sector.

Cyber attacks against UK financial industry on the rise – FCA – The number of cyber attacks against financial-services groups has soared in the last couple of years, with 75 attacks being reported to the UK’s City watchdog so far this year, compared with.

Equifax haunted by cyber attack as costs, lawsuits increase – the Financial Industry Regulatory Authority, and the New York Department of Financial Services. Equifax also said many customers of the U.S. Information Solutions business, which are largely financial.

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PwC: Biggest Increase In Cyberattacks In Over 10 Years – Even the retail industry is arming itself heavily to fend off attacks on customer data: In 2015, its average security spend increased by 67% over the previous year. The retail sector registered a 154% increase in detected cyber attacks between 2014 and 2015 and a 159% rise in financial losses over the same period.

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A Magnet for Cybercrime: Financial Services Sector – A new report by IBM Managed Security Services (MSS) threat researchers took a closer look at the financial services industry’s cybercrime woes. There was no shortage of cyberattack-induced.

Perspectives on Cybersecurity, the Financial System, and the. – In offering these financial services, banks have to take on risk, and. Could we be done with policy rate increases this cycle?. of cyber attacks on the financial sector, I think it pays to put cyber risks into a special category.

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Modern Bank Heists: Cybersecurity Threats Facing the. – Despite investing heavily in security, financial institutions continue to experience cyber attacks at a rapid pace. Conducted primarily for the purpose of yielding illicit financial gain, cyber attacks against the financial services industry are increasing in sophistication and are often undetectable, global and instantaneous.