Managing cyber security no 'tick-box' challenge - FCA

'Getting basics right reduces 80% of cyber breaches'

Victoria McKeever
clock • 2 min read

Managing cyber security is not a "tick-box" challenge but an issue in which financial services businesses should assess "people, processes and technology", FCA chief operating officer Nausicaa Delfas has said.

Speaking at the 2017 Cyber Security Summit and Expo, Delfas said cyber risks included markets being disrupted through loss of availability of platforms, as well as sensitive market or customer data being stolen or compromised. In an effort to help firms become more resilient to such risks, Delfas said the Financial Conduct Authority (FCA) had considered managing cyber security to be a question of people having the right mindset and not just the right technology. GDPR and financial advice: Breach reporting "Managing this is not a ‘tick box' solution - it requires real thinking outsi...

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 Regulation

No naming without shaming? The FCA's transparency plans

No naming without shaming? The FCA's transparency plans

The impact of the FCA’s plans to name firms under investigation

Chris Croft
clock 27 March 2024 • 4 min read
FSCS declares three financial advisory firms in default

FSCS declares three financial advisory firms in default

Latest batch of failed firms revealed by lifeboat fund

Jenna Brown
clock 25 March 2024 • 1 min read
FCA commits to fast authorisations to boost finance sector

FCA commits to fast authorisations to boost finance sector

The regulator’s latest business plan highlights this focus

Sahar Nazir
clock 19 March 2024 • 1 min read