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...

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