The UK’s Financial Conduct Authority recorded a 138% increase in technology outages at financial firms and an 18% rise in cyber incidents, according to one of the regulator’s top officials.
“On the basis of the data that the FCA is currently collecting, we see no immediate end in sight to the escalation in tech and cyber incidents that are affecting UK financial services,” says Megan Butler, executive director of supervision at the FCA.
Butler, who was reporting on the regulator’s latest
- Demonetisation backer becomes new RBI governor
- Kohn ‘deeply’ worried Fed might not have support to fight next crisis
- Central banks turn to visual communication in 2018
- Indian governor resigns after conflict with government
- Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner