Cyber Security for Financial Services

Over 140 data breaches to the Information Commissioner which represented a 23% jump from the year before

CYBER ATTACK

23%

41% of companies have over 1,000 sensitive files including credit card numbers and health records left unprotected

CYBER ATTACK

41%
FINANCIAL SERVICES

Cyber Security for Financial Services

In the current climate, cyber security is a serious concern for most companies. For firms that specialise in financial services, however, cyber security is absolutely critical. Last year UK financial services companies reported over 140 data breaches to the Information Commissioner which represented a 23% jump from the year before. Insurance companies fared the worst with the number of reported data breaches doubling from the previous year.

cyber security financial services
cyber security financial services
FINANCIAL SERVICES

The importance of cyber protection for financial services organisations

Financial services companies are much more likely to be a target for cybercrime than businesses from other sectors due to the nature of the data they hold on record. Not only do they store very personal financial information, a financial planning firm may hold other types of sensitive data such as medical data in the form of an application form.

More than any other sector, financial services companies need to ensure they are doing everything they can to make sure that client’s data is secure and protected, they face all kinds of risks and challenges when it comes to cybersecurity. With electronic records and financial information now increasingly being accessed online and through mobile phones the risks of a cyber breach are particularly high.

FINANCIAL SERVICES

How can we help?

The nature of cyber-attacks is constantly changing, which puts pressure on financial institutions to make sure they are continually reviewing and updating their methods/procedures in order to keep up with increasingly sophisticated attacks. Improving cyber defences requires new products, systems and staff training. This is where we can help. The EncompassIT team have years of experience helping financial services firms protect both their own and their client’s data. We offer an extensive range of online security products and training packages to help ensure you are protected from any potential breaches.

cyber security financial services
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