Cyber and technology resilience in UK financial services

Cyber and technology resilience in UK financial services

Speech

Cyber and technology resilience in UK financial services

In a 2018 address at Bloomberg, Megan Butler, the FCA’s Executive Director of Supervision, presented a candid assessment of the escalating technology and cyber risks facing the UK financial sector. Drawing from a survey of nearly 300 firms, Butler revealed a staggering 187% increase in reported technology outages over a single year, with approximately 18% of those incidents being cyber-related.

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