Financial Services Firms Stare into the Abyss as Data Breaches Rocket

BN-IR898_0602ma_J_20150601171209.jpg

According to a Freedom of Information request by Egress Software Technologies, the UK Information Commissioner’s Office notched up 791 breaches in this sector between 2012 and 2014, including 585 in 2014 alone. 

The company has clarified that not all of these were security-related - the figure for data security issues was 158. Institutions reporting breaches in these years included Barclays, HSBC, Lloyds Banking Group, NatWest, Nationwide and Santander.
Egress chief executive Tony Pepper said: “Today’s report casts some major concerns over the mistakes they’re making with the information entrusted to them, whether that be citizens’ personal details or highly confidential reports about the economic future of the country.
“It is staggering to see financial services firms reporting more than three times the number of incidents than the legal sector, which has recently come under fire from the ICO.
“It is interesting to note that the monetary penalties issued by the ICO to this sector have historically been so low.”

Pepper said the rise in breaches should be triggering alarm bells everywhere, as once the EU General Data Protection Regulation - still making its long, slow path through the Brussels machine - is passed, the sector could face meltdown.
Under the new laws, far more severe penalties could be levied against miscreants than are currently being dished out by the UK regulator.
DataIQ: http://bit.ly/1T0wbLb

 

« PwC says UK Security Breaches Often Not Reported
WhiteHat Security: Majority of Websites Are Vulnerable to Data Thieves »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Perimeter 81

Perimeter 81

Perimeter 81 is a Zero Trust Network as a Service designed to simplify secure network, cloud and application access for the modern and distributed workforce.

BackupVault

BackupVault

BackupVault is a leading provider of completely automatic, fully encrypted online, cloud backup.

ZenGRC

ZenGRC

ZenGRC - the first, easy-to-use, enterprise-grade information security solution for compliance and risk management - offers businesses efficient control tracking, testing, and enforcement.

Authentic8

Authentic8

Authentic8 transforms how organizations secure and control the use of the web with Silo, its patented cloud browser.

CYRIN

CYRIN

CYRIN® Cyber Range. Real Tools, Real Attacks, Real Scenarios. See why leading educational institutions and companies in the U.S. have begun to adopt the CYRIN® system.

Syxsense

Syxsense

Syxsense brings together endpoint management and security for greater efficiency and collaboration between IT management and security teams.

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

Clayden Law

Clayden Law

Clayden Law are experts in information technology, data privacy and cybersecurity law.

Cyber Security Supplier Directory

Cyber Security Supplier Directory

Free Access: Cyber Security Supplier Directory listing 5,000+ specialist service providers.

FREE eBook: Practical Guide To Optimizing Your Cloud Deployments

FREE eBook: Practical Guide To Optimizing Your Cloud Deployments

AWS Marketplace eBook: Optimizing your cloud deployments to accelerate cloud activities, reduce costs, and improve customer experience.

CERT.BY

CERT.BY

The National Computer Emergency Response Team of the Republic of Belarus.

Nuvias Group

Nuvias Group

Nuvias Group is a specialist value-addedd IT distribution company offering a service-led and solution-rich proposition ready for the new world of technology supply.

Cybera

Cybera

Cybera is a leading provider of secure, software-defined WAN to many of the world’s top enterprises.

Xcina Consulting (XCL)

Xcina Consulting (XCL)

Xcina Consulting provides high quality business and technology risk assurance and advisory services.

SecurityHQ

SecurityHQ

SecurityHQ (Formerly known as Si Consult) is a Global Managed Security Service Provider (MSSP) that monitors networks 24/7, to ensure complete visibility and protection against your cyber threats.

LuJam Cyber

LuJam Cyber

LuJam Cyber is a cybersecurity company that provides protection to SME Networks.

IAmI Authentications

IAmI Authentications

IAmI is a first in Tokenization Cloud-based IAM Security Services, delivering the most advanced form of Two-Factor Authentication.

Accurics

Accurics

Accurics enables self-healing cloud native infrastructure by codifying security throughout your development lifecycle.