Financial services data hacks quadruple in 2016/17, FCA reveals

Cyber incidents overall jumped by 80%

Victoria McKeever
clock • 2 min read

Data hacking against financial services firms has quadrupled in the last year, according to Financial Conduct Authority (FCA) data contained in a freedom of information request by RSM.

The number of incidents where data was lost due to hacking jumped from four in 2016 to 17 in 2017, according to the data obtained from the regulator by the tax, audit and consultancy firm. There were also two separate incidents of ‘data leakage' reported to the FCA, it said. The figures also showed a rise in the number of incidents of financial loss resulting from malware infection, with four reported cases in 2017, up from just one in the previous year.   RSM technology risk assurance partner Steve Snaith said the figures were particularly concerning ahead of the General Data P...

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