The number of cyber-attacks reported by large finance institutions to the UK’s Financial Conduct Authority (FCA) has fallen 53% in 2024 compared to 2023.
This is according to data shared by cybersecurity training platform provider Hack the Box on December 9 following a Freedom of Information (FOI) request.
This data compares two periods, from January 1 to December 31, 2023, and from January 1 to October 21, 2024.
Between January 1 and October 21, 2024, the FCA received 101 incident notifications from regulated firms – a 53% drop compared to the whole of 2023 (January 1 to December 31, 2023).
Notably, incidents related to a cyber-attack against third-party providers have dropped by 37%, while data breaches tied to cyber incidents have decreased by 29%.
Haris Pylarinos, CEO and Founder at Hack The Box, said the fall in attacks coincides with much greater emphasis on cybersecurity preparedness in the finance industry – including continued tightening of the FCA’s operational resilience mandate.
Under the current rules, regulated firms must set impact tolerances, use…
