FCA: Banks Are Under-Reporting Cyber-Attacks

Phil Muncaster

UK banks have been accused by their regulator of hiding the full extent of cyber-attacks.

Megan Butler, director of supervision at the Financial Conduct Authority (FCA), told attendees at the ICI Global Conference in London on Tuesday that the number of “material attacks” reported to the regulator has risen from just five in 2014 to 49 so far this year, a pro-rata 67% increase.

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Source: https://www.infosecurity-magazine.com/