According to data obtained by Hack The Box via Freedom of Information (FOI) requests, the FCA received 101 incident notifications from regulated firms between January 1 and October 21 this year - marking a 53% decrease compared to the year prior.
Haris Pylarinos, CEO and founder at Hack The Box, said the downtrend in reported attacks is a 'welcome development', especially given the increasingly perilous threat landscape faced by financial institutions globally.
The drop in the number of attacks follows ongoing efforts by the FCA to tighten up the regulations covering operational resilience, with the aim of securing financial firms' critical data.
Preparedness and consistency in response is critical to maintain business operations. This requires firms to empower CISOs and security executives to take control of an incident.
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