The FCA Specialist Supervision team have launched a new guide on cyber security. Incidents for Consumer Credit firms have increased from 5 to 90 in the last two years. Director , Alison Barker said ‘We want to help UK to remain a safe place to do business and we want to help your organisations become more resilient to cyber attacks.’ This follows recent cyber attacks on the NHS and other firms from North Korea, as well as the recent attacks on eastern European targets.
Following a thematic review, General Insurers were found to have significant shortcomings with examples of mis-selling and customer detriment, as well as failings of oversight of Appointed Representatives. Redress is ongoing.