Financial services to be targeted with cyber crime?
The UK has been abuzz with concern over cyber crime over recent months, with warnings from several different sources indicating that the country's businesses may not be taking the threat as seriously as it warrants.
Security expert Dr Sally Leivesley is the latest to add her voice to this chorus, telling ITV's Daybreak presenters that the UK's status as a financial services hub makes it particularly vulnerable to attack.
She argued that Britain has became "an open business sign" for opportunist hackers because of the potential profits to be made from damaging its wide-ranging network of banks, investment companies and other financial institutions.
A spokesman from the Home Office emphasised that the government is taking action to limit online criminal activity and warned that businesses must not become complacent about the threat posed by this kind of disruption.
Home Affairs Committee Chair, MP Keith Vaz, said: "We need to establish a state of the art espionage response centre. At the moment the law enforcement response to e-criminals is fractured and half of it is not even being put into the new National Crime Agency."
What does this mean for financial services businesses? While one hopes the government's investment will be fruitful, it's obvious that companies should not rely on it as their sole bulwark against cyber crime.
Just 21 per cent of the FTSE 350 company secretaries questioned in a recent Financial Times/ICSA Boardroom Bellwether survey felt they had identified their key information assets and taken action to mitigate the risk these face - this will need to change in the future.
Although in the past cyber crime was an area largely confined to the small group of technical experts charged with setting up security systems, in the current climate it needs to become a boardroom issue, as well as one that is emphasised throughout an organisation.
Spreading knowledge of the risks throughout a company can help stop mistakes from happening and gaps from being left in safety procedures.
Signup to receive the latest discipline specific articles
Related articles
![Why you need finance contractors to bolster your business](https://attraxcdnprod1-freshed3dgayb7c3.z01.azurefd.net/1481115/1438233e-ba19-4fa6-bc88-cbe12d4d2518/2023.17000.2532/Blob/post_no_image.jpg)
Teaser
Financial ServicesContent Type
General
24/06/24
Summary
The interim and contracting industry currently accounts for a third of the world’s working population and is projected to reach $500 billion in gross volume in the next five years. Why has there
by
Ryan Johnson
![London SMES are increasingly reliant on temporary workers](https://attraxcdnprod1-freshed3dgayb7c3.z01.azurefd.net/1481115/1438233e-ba19-4fa6-bc88-cbe12d4d2518/2023.17000.2532/Blob/post_no_image.jpg)
Teaser
GeneralContent Type
General
06/06/24
Summary
According to research from Sonovate London SMES have become increasingly reliant on temporary workers. New research has revealed that there has been an increase in reliance from small and medi
by
Jamie Smith
![How technology is impacting the future of risk and compliance jobs](https://attraxcdnprod1-freshed3dgayb7c3.z01.azurefd.net/1481115/1438233e-ba19-4fa6-bc88-cbe12d4d2518/2023.17000.2532/Blob/post_no_image.jpg)
Teaser
GovernanceContent Type
Fintech
18/04/24
Summary
The role of risk and compliance in financial services As a sizeable, growing portion of the financial services sector, risk and compliance play a vital role in ensuring that firms conduct busine
by
David Clamp
Related jobs
Salary:
£65,000 - £85,000 per annum
Location:
Bradford, West Yorkshire
Industry
Business Services
Qualification
None specified
Market
Financial Services
Salary
£80,000 - £100,000
Job Discipline
Risk
Contract Type:
Permanent
Description
Senior Modelling Lead Excellent benefits 10% bonus, 16% pension, 25 days holiday Fully flexible - Possible remote for the right person
Reference
BBBH179067
Expiry Date
01/01/01
Author
Kirsty HeathAuthor
Kirsty HeathSalary:
£55,000 - £65,000 per annum
Location:
Bradford, West Yorkshire
Industry
Business Services
Qualification
None specified
Market
Financial Services
Salary
£60,000 - £70,000
Job Discipline
Risk
Contract Type:
Permanent
Description
Market and Liquidity Risk Lead (Prudential) Can be fully remote - Fully flexible 10% bonus, 25 days holiday, 15% pension
Reference
b- 178650
Expiry Date
01/01/01
Author
Kirsty HeathAuthor
Kirsty HeathSalary:
£75,000 - £87,000 per annum + Bonus + Bens
Location:
Leeds, West Yorkshire
Industry
Business Services
Qualification
None specified
Market
Financial Services
Salary
£80,000 - £100,000
Job Discipline
Risk
Contract Type:
Permanent
Description
Senior Manager - Balance Sheet Modelling £87,000 2 days a month in the office Excellent package Leeds
Reference
KH - 175919
Expiry Date
01/01/01
Author
Kirsty HeathAuthor
Kirsty HeathSalary:
£60,000 - £65,000 per annum
Location:
Bradford, West Yorkshire
Industry
Business Services
Qualification
None specified
Market
Financial Services
Salary
£60,000 - £70,000
Job Discipline
Risk
Contract Type:
Permanent
Description
Prudential Risk Could be fully remote for the right candidate £65,000 + benefits 10% bonus, private health, 15% pension
Reference
178605
Expiry Date
01/01/01
Author
Kirsty HeathAuthor
Kirsty HeathSalary:
Up to £65,000 per annum
Location:
Leeds, West Yorkshire
Industry
Business Services
Qualification
None specified
Market
Financial Services
Salary
£60,000 - £70,000
Job Discipline
Risk
Contract Type:
Permanent
Description
Climate Risk Lead £65,000+ Benefits Excellent progression Hybrid working - highly flexible
Reference
BBBH180017
Expiry Date
01/01/01
Author
Kirsty HeathAuthor
Kirsty HeathSalary:
Up to £65,000 per annum
Location:
Leeds, West Yorkshire
Industry
Business Services
Qualification
None specified
Market
Financial Services
Salary
£60,000 - £70,000
Job Discipline
Risk
Contract Type:
Permanent
Description
Risk Assurance Manager
Reference
BH - 19999999
Expiry Date
01/01/01
Author
Kirsty HeathAuthor
Kirsty Heath