Thinking of reporting Information Breaches to the FCA? – you’re in very rare company!

Posted on Posted in Data Breach, Regulation

In a response to an FOI Request that asks the FCA for:

“The number of reported data breaches for financial advisors, insurance, lenders, pensions, total (of these sectors), for each month from March 2013 up to March 2017”

How many breaches did the IFA sector make in the 4 years that covers? Two
There were, as of December 2015, 14,491 IFA firms.  That’s Fourteen and a half THOUSAND firms over four years and only two breach reports.

Pensions firms were even more careful (with their reporting at least) with only one breach in September 2013 and none since.  AMAZING.  I want their cyber security……

If you want to know how little companies understand about their data security here are the reported breaches