Financial Services Security
Threat Intelligence
Essential Reading
Ransomware in UK Financial Services
The financial sector is the most targeted industry for ransomware in the UK — NCSC Cyber Threat Report.
APP Fraud and Cybersecurity
£459 million lost to APP fraud in the first half of 2023 — the majority enabled by business email compromise and social engineering.
Third-Party Cyber Risk in Financial Services
Ion Group ransomware attack in January 2023 disrupted derivatives trading at 40+ financial institutions globally — none of them the primary target.
Further Reading
Insider Threat in Financial Services
Financial services has the highest insider threat density of any industry globally — Verizon Data Breach Investigations Report.
Cloud Security and FCA Concentration Risk
The FCA has identified cloud concentration risk as a systemic financial stability concern — with three providers (AWS, Azure, Google) hosting the majority of UK financial services infrastructure.