UK banks aren't telling watchdogs about cyber attacks
One of the challenges facing firms and regulators is the growing use of cryptocurrencies such as bitcoin in cyber attacks.
UK banks still aren’t telling regulators about all the cyber attacks on the financial services industry despite a ten-fold increase in reports to the Financial Conduct Authority over the last four years.
"Our suspicion is that there’s currently a material under-reporting of successful cyber attacks," Megan Butler, the FCA’s director of supervision, said in a speech Tuesday, according to a copy of her remarks on the regulator’s website.
To keep reading
please sign up for free!
Already have an account? Sign in here.
Editor's Picks
Euro reform
—
22.06.2018
Eurozone finance ministers back new powers for ESM
Benefits
—
20.06.2018
Luxembourg refutes cross-border unemployment plan
Tax
—
20.06.2018
UK companies to face pre-Brexit tax bombshell from EU
