Cyber attack protection: Six tips every IFA should follow

IFAs should have disaster recovery plans in place in case of attack

clock • 4 min read

The cost of a cyber attack to businesses is not just financial, writes Sarah Coles, firms' reputations are also at risk...

In the last month, we've seen Royal Mail, ION Group and Succession Wealth suffering cyber-attacks. It's a growing trend. Cyber risks are now the biggest concern for companies globally. According to a report from leading cybersecurity vendor CheckPoint, businesses suffered about 50% more cyberattacks every week in the first nine months of 2022, compared to the same period in 2021. In 2022, 44% of company respondents to the Allianz Risk Barometer Survey highlighted cyber incidents as their top concern. And these incidents can be costly. IBM's Cost of a Data Breach Report showed that mor...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your Business

PA Management Retreat 2024: Two weeks left to confirm your place!

PA Management Retreat 2024: Two weeks left to confirm your place!

Targeted two-day specialist event for owners and directors of advice firms

Professional Adviser
clock 03 May 2024 • 1 min read
All the advice firm acquisitions that have taken place in 2024

All the advice firm acquisitions that have taken place in 2024

Keeping track of the ongoing consolidation of the advice industry

Professional Adviser
clock 02 May 2024 • 1 min read
PA360: Advice industry should not 'shoehorn' younger generation

PA360: Advice industry should not 'shoehorn' younger generation

‘Next gen advice should be a profitable income stream for your business’

Isabel Baxter
clock 26 April 2024 • 2 min read